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The Virginia housing market is showing resilience in 2024, with home sales slightly ahead of last year despite higher mortgage rates. In June alone, more than 10,000 homes were sold across the state. Although this was a drop compared to the previous month, overall sales for the first half of…

Owning a home is now more expensive than it has been in nearly two decades, with housing costs consuming about 35 percent of the average American’s income. Rising home prices and high mortgage rates have pushed affordability to its lowest level since 2007, creating challenges for potential buyers. Despite a…

Existing home sales continued to decline in May, marking the third straight month of falling transactions. Sales dropped 0.7 percent from April and remain nearly three percent lower than this time last year. Despite the slowdown in activity, home prices reached a new all-time high, further widening the gap between…

The dream of home ownership is slipping away for many Americans, with 40 percent of renters now believing they’ll never own a home. That’s a sharp increase from just 27 percent last year, highlighting how rising home prices and high mortgage rates are making buying a home feel out of…

Landlords in Virginia are not required to allow tenants to smoke marijuana inside rental properties, even if the tenant claims it is for medical use. While marijuana is legal in the state under certain circumstances, it remains classified as a controlled substance under federal law. Because of this, Virginia Fair…

The NRV housing market showed mixed signals in March 2024, with increased buyer activity but ongoing affordability challenges. New listings rose by 16.1% year-over-year, meaning more homes were put on the market compared to last March. This helped ease inventory constraints slightly, as the total number of homes for sale…

The Biden administration's recent push to waive lender’s title insurance on certain refinances is drawing sharp criticism from the title insurance industry. The American Land Title Association (ALTA) argues that this move, intended to lower closing costs for homeowners, is more of a political gesture than a real financial benefit.

A new proposal from Federal Reserve economists could dramatically cut real estate agent commissions, potentially slashing about $30 billion from what homebuyers and sellers currently pay. The suggested model would change how agents are compensated, making commissions more competitive and aligning them with international standards, where fees are often much…

Housing construction took a major hit in January, with new home starts plummeting nearly 15 percent from the previous month—the biggest decline since the COVID-19 lockdowns. Analysts had expected a more stable performance, but high mortgage rates and economic uncertainty kept builders cautious. Building permits also dropped, signaling that future…

Virginia Tech has once again set a new record for freshman applications, receiving 52,365 submissions for the upcoming fall semester—an 11 percent increase from last year. This marks the fourth consecutive year the university has seen record-breaking application numbers, signaling strong interest in its programs and reputation. Despite the surge…

Virginia lawmakers are considering a new bill that would give cities the power to regulate rent increases in an effort to combat rising housing costs. The proposal, introduced by Delegate Nadarius Clark, aims to prevent excessive rent hikes by capping increases at either the annual inflation rate or seven percent,…