>>May's Housing Report Includes Mixed Signals for VA Homebuyers, Sellers
(Richmond, VA) -- May's housing report is out and it includes mixed signals. Thomas Cage with more.Preview: Voicer Script:
Virginia REALTORS released their May 2024 home sales report this week. While some areas in the U.S. experienced a drop in sales, Roanoke saw an increase in both sales and prices. Statewide, sales are below average, although the Roanoke Valley is showing one of the largest percentage increases in sales. WFXR reports rising interest rates are causing buyer hesitation, particularly affecting first-time buyers. On the commercial side, Roanoke's market has remained stable, with high demand and low supply benefiting sellers.