real estate news
for the Shenandoah Valley of Virginia
The headline this week in the real estate industry is once again the comeback of mortgage purchase applications! Despite the pandemic, buyers are itching to take advantage of low interest rates. Applications have virtually returned to the same level this time last year.
While mortgage applications are a very positive indicator of new buyers in the market, current activity this week shows a slow in certain areas of the market. The year to date comparisons reveal more indicators turning negative and the margin of the positive numbers narrowing. Overall, the local real estate market is still very strong and there are many opportunities for both buyers and sellers.
Click Here For This Week's Report (pdf)