10/07/2026
Good afternoon- here is my August Hampton Roads housing-market update, along with what the current rate environment could mean to both buyers and sellers. (I should have Septembers numbers in a couple days to give another update)
View the full market's model here: https://beardedbroker-market-model.netlify.app
What does this data mean to you, as a purchaser of a home? As the treasury yield rises, generally the cost to borrow money gets more expensive, and mortgage rates rise.
What this means for sellers is your time on market could be longer than we have seen the past couple years. When you go to price your home, your timeline, where you are moving to, are all factors that need to be thoughtfully planned out. Perhaps, what you thought it would sell for, may be higher than what the market can currently support. Pricing is more important than ever.
The data is showing:
Pending sales are up (YoY) ⬆️
Settled sales are down. ⬇️
Active listings are up ⬆️
Median sales price is up ⬆️
New construction sales down sharply, -13% ⬇️
Furthermore, if a current home owner bought during the "lowest rate period in history" Jan 2021, using a fixed 30-year mortgage, what incentive do they have to get rid of that mortgage today by selling? Equity, sure, as across Hampton Roads houses have been appreciating. How does that look when it comes to moving across town though, on your monthly budget?
Everyone's situation is different, and this is where my expertise in the market and my analysis of the data come into play.
I don't control the interest rates, energy prices, or know if/when the rates may come down. What I can do, is follow the data, and use it to help you understand how to make an informed next move.
What do you think happens next? Rate reductions, a housing price correction, or rates hold near current levels for an extended period of time? I'd like to know what you think, comment below.
