real estate news
for the Shenandoah Valley of Virginia
It's official, interest rates are at an historic low! On April 30th, Freddie Mac reported a 3.23% - 30 year mortgage rate in its weekly market survey. This truly presents an historic opportunity for buyers in today's market. These rates appear to be pushing buyers to increase mortgage purchase applications as this index is increasing.
Locally, the real estate market shows strength in most areas. Inventory continues to be a challenge for purchasers, presenting an opportunity for sellers to list and sell their home quickly. In fact, the median days on market across the Shenandoah Valley ranges from 18 to 55. Homes are selling much faster this year compared to last. Contact a professional at Funkhouser Real Estate Group to learn what today's market conditions mean for your real estate needs.
Click Here For This Week's Report (pdf)