This will be an interesting to watch!!!
Warm weather comes to Hampton Roads!!! Entire week in the 70s will bring out more of all sorts of blossoms(which will be the bane of all the allergy impacted). But blossoms won't be the only fresh growth....watch the buyers come out of the wood work!
I am no doubt being tongue in check a bit as the buyers have been increasing in our entire market though the housing inventory remains barely over 9000 homes actually available. Though we aren't seeing the 18% increase in values that Arizona is seeing, we did see over 3% last year and expecting about the same this year.
Thus, buyers are looking at a market that continues with low mortgage rates, improving loan availability and strengthen housing prices. As a result, those needing to move should before the market takes a negative trend(higher rates/inventory shortge).
Seller can rejoice!! Buyers are out there seeking their home AND the value improvement may just mean they aren't a short sale!!!
Jim Belote's update below gets into a few a more details on the market.