real estate news
for the Shenandoah Valley of Virginia
Summer 2020 ended with strong numbers in most areas of the Shenandoah Valley. Contracts year to date are well ahead of last year (9% to 17%) with the exception of Augusta County where the market has slowed by 6%. We expect a strong fall market this year as interest rates continue to stay below 3% and purchase mortgage applications ticked up again this week.
While home prices continue to increase by 9% to 12% across the markets, low interest rates make this higher prices more affordable. This remains a good time to lock in historically low financing options.
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