Virginia Housing Market Shows Signs of Stabilizing as Inventory Rises

ROANOKE, Va. (WDBJ) - Virginia’s housing market is showing early signs of stabilizing after several years of limited inventory and intense competition.

New statewide data shows nearly 8,800 homes sold in September , an 8.9% increase compared to the same time last year. Active listings also grew to 24,700, up more than 25% year-over-year.

The combination of increased inventory and mortgage rates dipping into the low six-percent range is giving buyers more room to re-enter the market.

In Roanoke, that shift is noticeable. Local realtor Ashley Ramsey says the region is moving away from the overheated conditions that defined the past few years.

“So we’ve been in a seller’s market, but this year I have seen it shift a little bit more towards a buyer’s market,” Ramsey said.

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