Seeing new home sales pick up speed in August is a promising sign for buyers and sellers alike, even if activity remains just 2% below last year’s level. Builders responded to market pressures by adjusting prices and offering incentives, which pushed sales to their fastest pace in eight months. With the median price at $393,700 and inventories still high, it’s clear that rising financing costs are weighing on builder confidence. After decades in real estate, and with a background as both a licensed builder and retired home inspector, I’ve seen how shifts like these shape opportunities for buyers across Central Virginia. Whether you’re exploring your first purchase or considering a move, understanding these trends can make a real difference.
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