Virginia Housing Market Robust

Here in Virginia, the housing market saw a robust uptick in April… that according to the latest report from Virginia Realtors. Home sales surged by 14.1%, with 9,416 homes sold statewide compared to last year. The median sales price also climbed significantly, reaching $416,548—a 6.5% increase year-over-year. Despite a 19.1% rise in new listings, the market remains competitive with homes selling in just seven days on average. But due to rocky economic conditions nationally, and with mortgage rates still high, affordability concerns persist.