July 2023 Market Update

​@JasonGoodinV1R Discusses the latest developments in the Hampton Roads, Virginia housing market to better prepare buyers and sellers for exactly what to expect when buying or selling a home.
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The latest monthly market report for Hampton Roads shows a decrease in listings, settled sales, and new construction.

[00:00](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=0) Active listings down year over year

[00:50](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=50) Residential activity is down in June.

[01:48](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=108) Record low inventory leads to record high sale prices

[02:45](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=165) An analysis of median sale prices in 12 cities in Hampton Roads.

[03:38](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=218) Settled sales and median days on Market are increasing due to low inventory of homes.

[04:30](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=270) Buyers are fiercely competing for properties

[05:22](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=322) The housing market has seen a flat month to month change in new listings and a 5.1% increase in active inventory.

[06:17](https://www.youtube.com/watch?v=WuxEcs-2hqU&t=377) We are in a strong seller's market with a shortage of homes for sale.