real estate news
for the Shenandoah Valley of Virginia
Interest rates have again hit a record low at 3.15%! This is great news for buyers who want to secure a long-term saving in their mortgage payment. Mortgage applications increased again this week, signaling a strong summer market.
Year to date numbers throughout the Shenandoah Valley are now lagging behind last year in most categories. With low interest rates, we expect to see a new wave of buyers in the market in the coming months. The greatest challenge facing today's market continues to be the supply of homes. Owners who are thinking about selling their home in the near future should talk with a real estate professional about selling this year.