Another week brings historical low interest rates!  Now at 2.8%, buyers are taking advantage of locking into long-term savings in their home purchase.  

Now is the time to find the right home to make a move before the end of this year!  Contact a professional at Funkhouser Real Estate Group to guide you through your next move.

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Interest Rates dropped to another historic low at 2.81%!  Even though inventory remains low, this is a great opportunity for purchaser's to lock into greater affordability.  

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As we begin the fourth quarter of 2020, interest rates remain low and the real estate market across the Shenandoah Valley is strong.  All markets are outpacing last year with the exception of Augusta County where closings lag behind last year by 7%.  The Harrisonburg-Rockingham market continues to make gains over last year at 2% and Shenandoah County is up more than 11%.  Page County will most likely end the year with the largest gains over last year with closings up 17%.

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October is here and many people are beginning to think about the upcoming holidays.  While some are deciding what decorations to display, perhaps others should be thinking about planting a For Sale sign in their front yard!  The lack of housing inventory continues to frustrate buyers and hold back the Shenandoah Valley housing market.  

The inventory numbers above are very low for all areas of the Shenandoah Valley.  Basic principles of supply and demand tell us that prices will continue to increase with low inventory as demand for housing stays strong into the fall.  In fact, the National Association of REALTORS indicates a balanced housing market has six months of supply.  Unfortunately, our market is currently experiencing supply less than one month in one area and up to two months in others.

If you are thinking about selling your home to upsize, downsize, or just need a change of scenery; now may be a great opportunity to make a move.  Give one of our real estate professionals a call to learn about the market conditions in your neighborhood and what your home is worth in today's market.

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