real estate news
for the Shenandoah Valley of Virginia
Mortgage purchase applications continue to outpace this time last year indicating a strong real estate market as we begin to move past summer. While inventory will continue to lag behind demand for the foreseeable future, the Harrisonburg-Rockingham market is the only area to have an increase in new listings year to date. There are positive market signs in all markets throughout the Shenandoah Valley as closings in Page and Shenandoah County are greater than last year and the Augusta County market is seeing the gap in activity narrowing.
Contact a real estate professional at Funkhouser Real Estate Group to see if the current market conditions are favorable for your real estate needs.
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Interest rates ticked up this week and remain below 3%! Inventory remains behind last year throughout the Shenandoah Valley with the exception of the Harrisonburg/Rockingham market where it has improved 6%. Buyer activity continues to remain strong with multiple-offer scenarios in many price ranges. Today's buyer needs to engage with a lender early in the home buying process to strengthen their offer. Contact one of our real estate professionals today to begin the process of buying or selling your home in today's market.
This week hit another record low for interest rates! Now at 2.88%, buyers have an incredible opportunity to take advantage of locking into lower payments. While many people are working from home and kids prepare for remote learning, a larger home may be needed. Give a professional at Funkhouser Real Estate Group a call to find the right home at the right price for you!