February Market Report Shows Signs of Improved Housing Market in Hampton Roads

According to the National Association of REALTORS® Existing-Home Sales Report:

  • 13,205 homes were sold everyday in January
  • Prices were up 6.2% over last year
  • Sales were up 3.2% over last year
  • Inventory was down 0.5% over last year

These are all signs of an improve housing market nationwide.

So what about Hampton Roads?

In January, according to REIN statistics,  an average of 83 homes were sold each day. There was also a 7% increase in the number of houses for sale in the area over the same time period in 2014.

But, the best news is that home sales were up 10.8% over January 2014, which is 7.6% higher than the national numbers.

Now, before the spring selling season begins,  is the time to get a game plan together with your Rose & Womble REALTOR® to get your home listed on the market. Buying conditions are good, and the Milliennials generation is gearing up to purchase their first homes. If you’ve been thinking about moving into a bigger home, or you’re considering down-sizing, now may very well be the time to get your home in the Hampton Roads real estate market.

february 2015 hampton roads real estate market report infographic