Welcome to Market Talk! I’m Liz Moore, President of Liz Moore & Associates, and in this issue we’re going to look at how our local real estate markets have shifted over the first quarter of 2025.
Get the Updated Market Value of My Home
Welcome to Market Talk! I’m Liz Moore, President of Liz Moore & Associates, and in this issue we’re going to look at how our local real estate markets have shifted over the first quarter of 2025.
Get the Updated Market Value of My Home
Welcome to Market Talk! I’m Liz Moore, President of Liz Moore & Associates, and today we’re going to talk about what’s happening in our local real estate markets as we round the corner into 2025.
Get the Updated Market Value of My Home
I’m Liz Moore, President of Liz Moore & Associates, and today we’re going to talk about what’s happening in our local real estate markets as we close out the 3rd quarter of 2024. We invited Ryan Price, the Chief Economist at Virginia REALTORS, to present at our company meeting last month. His insights into an improving economy and housing market in Virginia, as well as his forecasts for 2025, were met with much enthusiasm from the agents! I’ll share a few of his thoughts here.
Get the Updated Market Value of My Home
I’m Liz Moore, President of Liz Moore & Associates, and today we’re going to talk about what’s happening in our local real estate markets as we move into the second half of 2024.
2023 ended the year with the lowest number of home sales since 2008. That low was the combination of two competing forces – high interest rates and low inventory. As interest rates jumped in the second half of the year, more and more buyers decided to wait it out.
2024 has continued to see a relatively flat pace of sales, although there are definitely pockets of intense competition (multiple offers) in certain neighborhoods and price ranges. Prices have remained strong as a result of continued low inventory.
Get the Updated Market Value of My Home
Welcome to Market Talk! I’m Liz Moore, President of Liz Moore & Associates, and today we’re going to talk about what’s happening in our local real estate markets as we move into the new year in 2024.
I’ve heard some reports that the U.S. will record the lowest number of sales in 2023 since 2008. The real estate market was definitely off last year, but it did NOT feel like 2008. There are a number of reasons for that: first of all, the pace of the market remained steady, because unlike 2008 there was plenty of buyer demand.
Back then, we had over 2 years of inventory available – last year the needle moved from less than 1 month to approaching 2 months. The result of that was that nearly one third of the market experienced multiple offers – good for sellers, not so much for buyers.
