August Market Stats Reflect Seasonal Slowdown of Total Sales, but Still Higher Prices
Reports the Northern Virginia Association of Realtors®
Fairfax – “With inflation in a soft patch right now, many federal officials still project one more interest-rate increase this year but not right away,” explained NVAR Chairman Bob Adamson. “The Federal Reserve is in no rush to raise rates, which keeps value pricing intact for those applying for mortgages” he said.
When July and August home sales are averaged together, we only have a 1 percent decline in what is our third busiest season for home sellers…