23:05
While Virginians feel good about the current real estate market, there are some concerns about its future, according to a new Roanoke College poll.
Overall, 57 percent of Virginians believe market conditions have improved since last year and just 20 percent believe that the landscape has worsened. For the past three years, polling has shown that there is usually a seasonal dip in optimism among people looking to buy or sell a home this time of year. This year, the dip was slightly less than it was in the two previous years.
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“Additionally, 50 percent believe that conditions will improve over the next year, down two points since August,” the poll said. “Fifteen percent believe that the market will decline in the coming year, up one point from last quarter.”
Looking into 2016, sellers were more optimistic, citing low mortgage rates. Sellers were 28 percentage points more optimistic than pessimistic about next year, up slightly since August.
Buyers, the poll showed, felt positive about the current real estate market across every region in the state. However, buyers were less optimistic about next year, especially in Northern Virginia. The poll said many were concerned about rising home prices and interest rates.
The poll of 603 Virginia residents was conducted in November. It’s part of a series of polls regarding attitudes about Virginia’s overall real estate market.
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