For the first time in over three years, existing home sales increased year over year, reaching a seasonally adjusted annual rate of 3.96 million in October. So, what exactly does this mean? So glad you asked! Even though 2024 is shaping up to have the fewest home sales on record, the rise in sales this October could be a sign that the housing market is starting to recover. After a long stretch of slowing home sales, data from the National Association of Realtors (NAR) shows three main trends that are worth paying attention to: More homes are selling, and prices are still rising. Homeowners are seeing their equity grow as prices climb. There’s more inventory to choose from. For buyers, the market is offering a bit more breathing room as the number of available homes rises. Buyers are starting to come back. The year-over-year sales increase shows that demand is picking up, even with mortgage rates higher than in years past. For homeowners, this means rising equity and an opportunity to sell at peak prices. For buyers, the growing inventory could finally offer a wider selection of homes to choose from. Below, we’ll break down what’s behind the numbers, explore how rising prices and inventory are shaping the market, and share actionable insights for homeowners looking to take advantage of these trends.  1. More Homes Are Selling, and Prices Are Still Rising Homeowners, this one’s for you: the value of your home is likely continuing to grow. In October, the median existing-home price rose to $407,200—a 4% increase compared to last year. That’s the 16th straight month of year-over-year price growth. Here in Hampton Roads, the median home price was $339,450 in October, a 7.1% increase year over year. This shows that our local market is similar to the national market, and home prices have continued to rise. For many sellers, this means a chance to cash in on rising equity. Lawrence Yun, Chief Economist for the National Association of Realtors, summed it up perfectly: “The ongoing price gains mean increasing wealth for homeowners nationwide.”  Yun also expects home prices to continue rising over the next two years, predicting a 9% YoY increase in 2025 and a 13% YoY increase in 2026.  2. There’s More Inventory to Choose From For the past few years, buyers have faced limited options in the housing market. But that’s starting to change. The inventory of unsold homes rose 19% nationwide compared to last year, giving buyers more options than they’ve had in a while. Locally, Hampton Roads saw a 9.4% increase in housing inventory in October.  This growing inventory means two things:  For sellers: More competition. Preparing your home to stand out—through staging, pricing it competitively, and marketing—will be key. For buyers: A bit more choice and less pressure to bid on the first home you see. If you’ve been waiting for the market to offer more balance, this could be the sign you’ve been waiting for. 3. Buyers Are Starting to Come Back NAR’s report shows that home sales are up year over year—the first time we’ve seen this since July 2021. Even with elevated mortgage rates, buyers are finding ways to re-enter the market, driven by job stability and growing economic confidence. While mortgage rates are still hovering around 6.78% for a 30-year fixed-rate loan, they’ve stabilized. And Yun predicts they could dip into the lower 6% range in 2025.  This demand is creating a sweet spot for motivated sellers: buyers are ready, inventory is growing, and prices are holding steady. Final Thoughts If you’ve been considering selling, now may be a great time to act. With prices still rising and demand picking up, listing your home soon could help you attract serious buyers and secure a strong return. Just keep in mind that more inventory means your home needs to shine. Staging, high-quality photos, and competitive pricing are more important than ever. For buyers, the good news is that you have more choices. The rising inventory is making it easier to find homes that fit your needs and budget. While mortgage rates are still higher than a few years ago, they’re stabilizing. If you’re ready to buy, the best strategy is to get pre-approved, understand your budget, and stay patient while exploring your options. For those looking for more personalized insights, I’m happy to help. Connect with me here for a discovery call, and we can start exploring your options.

The holidays are almost here, and your home is about to be center stage for festive gatherings and cozy reunions.  Whether you’re looking forward to hosting or dreading it, the good news is that you don’t have to empty your wallet while prepping your home. As a real estate agent, I’ve seen firsthand how a few strategic staging tweaks can completely transform a home—and I’m sharing my insider tips for getting your space guest-ready on a budget. These ideas will help you create a memorable holiday experience while keeping things unique, personal, and hassle-free. 1. Declutter Like a Pro You know a clean home makes a great first impression, and the best part? It doesn’t cost a dime (just a little elbow grease). But here’s the real game-changer, whether you’re hosting guests or prepping your home for sale: strategic decluttering. The less visual noise, the more inviting your space feels.  Bonus tip: Create “holiday zones”—a cozy corner for conversations, a dessert table nook, and a space for kids to play. Guests will love the intentionality, and you’ll love the manageable cleanup later. 2. Rearrange Your Furniture for Better Flow Imagine your home as a space designed to host: Does your living room encourage conversation? Are there places for drinks to rest? Shift furniture to open up pathways and create cozy groupings. For a pro touch, borrow or rent small accent tables or stools for extra functionality without adding clutter. 3. Add Festive Decor Without Overspending Skip the overdone decorations found in every store this time of year. Instead, lean into fresh, local or meaningful pieces. Head outside to forage for branches, pinecones, or even citrus fruits for table decor (this also makes a great family activity!).  If the outdoors isn’t your thing, try vintage shops. You’ll be surprised at how many unique items you find at a fraction of the cost of big stores—think quirky ornaments or retro candlesticks that spark conversation.  4. Transform Your Guest Bedroom into a Mini Hotel Suite Treat your guest room like an Airbnb listing: Add a few thoughtful extras, like a printed Wi-Fi password, a stack of local magazines, or a bedside carafe of water. You can also place a basket with essentials like towels, toiletries, and snacks for a thoughtful touch that won’t cost a lot. Feeling fancy? Leave a handwritten holiday note welcoming your guests. These tiny gestures create a boutique experience without a boutique price tag. 5. Focus on the Bathroom Your bathroom will get a lot of traffic, so make sure it’s guest-ready. Replace the hand soap with a seasonal scent, add fresh towels, and place a small bouquet of flowers or greenery on the counter. Want a wow factor? A $5 investment in a eucalyptus bundle for the showerhead creates an instant spa vibe. 6. Create a Warm Welcome at the Front Door Your entryway is the first thing guests see, so make it count. Sweep the porch, add a festive wreath, and place a mat for wet shoes. If you have outdoor space, string lights or lanterns can create a warm, inviting atmosphere without requiring major investments. 7. Light It Up for the Season Lighting plays a huge role in creating a cozy ambiance. Use lamps or string lights to add warmth and reduce the need for harsh overhead lighting. Candles (real or battery-operated) can add a touch of elegance and are an affordable way to elevate your space. 8. Set Up a Self-Serve Drink Station Ease the stress of serving by creating a self-serve drink station. Use a bar cart or a side table to set up coffee, hot chocolate, or a festive punch, complete with cups, spoons, and garnishes. Guests will appreciate the gesture, and it keeps the kitchen clear for meal prep. 9. Offer Practical Storage for Coats and Bags With holiday gatherings, storage can quickly become an issue. Clear out your entryway closet or designate a specific area for coats, bags, and shoes. Use hooks, a sturdy rack, or baskets to keep everything organized and easily accessible. 10. Add Personalized Holiday Touches Small personal touches go a long way in making guests feel special. Write a quick welcome note or create place cards for a sit-down meal. And don’t forget a holiday playlist to set the tone! Personalized touches show thoughtfulness and care without requiring a big budget. Preparing your home for holiday guests doesn’t have to drain your bank account. With a little creativity and attention to detail, you can create a warm, welcoming space your guests will rave about.

Buying your first home is an exciting milestone, but it can also feel overwhelming. With so many steps, decisions, and financial considerations, it’s easy to see why first-time homebuyers often feel stressed. However, with the right guidance and preparation, you can navigate the process confidently and even enjoy it! Here are my top five tips for first-time homebuyers to help you on your journey. 1. Get Pre-Approved for a Mortgage Early Before you start scrolling through home listings, take the crucial first step of getting pre-approved for a mortgage. A pre-approval: Helps you understand your budget by showing how much you can afford. Shows sellers you’re a serious buyer, making your offer more competitive. Prevents surprises by highlighting potential issues with your credit or finances. Experts recommend shopping around with a few lenders to find the best rates and terms. Your real estate agent can connect you with trusted lenders to start the process. 2. Understand Your “Must-Haves” vs. “Nice-to-Haves” It’s easy to get swept up in the excitement of house hunting, but staying focused on your needs is key. Ask yourself: How many bedrooms and bathrooms do I need? Do I want a big yard, or is low maintenance more important? How far am I willing to commute to work? Creating a list of your non-negotiables and nice-to-haves will keep you focused during your search. Remember, compromise is common in real estate, but having clear priorities helps you make confident decisions. 3. Budget for More Than Just the Down Payment The costs of buying a home go beyond the down payment. To avoid surprises, prepare for additional expenses like: Closing Costs: Typically 2-5% of the home’s purchase price. Home Inspection and Appraisal Fees: Crucial for understanding the condition and value of the property. Property Taxes and Insurance: Monthly costs that will be part of your mortgage payment. Moving Expenses and Initial Repairs: Even a “move-in ready” home may require some updates or personal touches. Setting aside an emergency fund for unexpected repairs is also a smart move. 4. Work with a Knowledgeable Real Estate Agent Having a trusted real estate agent by your side is invaluable, especially as a first-time buyer. A good agent will: Explain each step of the process and what to expect. Help you evaluate homes objectively, pointing out potential red flags. Negotiate on your behalf to secure the best deal. Make sure to choose an agent who listens to your needs, communicates clearly, and understands the local market. 5. Think Long-Term Buying a home is a significant investment, so it’s essential to consider your future plans. Ask yourself: Will this home fit my needs for the next 5-10 years? Is the location convenient for my lifestyle now and later? Could this property increase in value over time? While no one has a crystal ball, thinking long-term helps you choose a home that supports your goals and provides lasting value. Final Thoughts Buying your first home doesn’t have to be intimidating. By preparing financially, understanding your needs, and working with the right professionals, you can confidently make one of the biggest decisions of your life. If you’re ready to begin your home-buying journey in the Hampton Roads or northeastern North Carolina area, I’d love to help. Schedule a discovery phone call to discuss your goals and create a personalized game plan. With the right guidance, your dream of homeownership is closer than you think!