Local Market Take Aways

Here in the New River Valley, November reflected a fairly classic seasonal shift. Activity cooled from the late summer and early all pace, particularly on the contract side, while closings slowed modestly as fewer new deals moved into the pipeline.

Pricing softened slightly, which is common heading into the winter months and often reflects a change in the mix of homes selling rather than widespread price pressure. Inventory continued to build, giving buyers more options and reducing the sense of urgency that dominated earlier cycles.

Homes are taking longer to sell compared to peak months, but the market remains active and functional. What we’re seeing is less frenzy and more balance, a market that rewards good pricing, preparation and patience on both sides.

National Scope

At the national level, existing home sales eased slightly as the market moved deeper into the fall slowdown. Mortgage rates stabilized compared to earlier in the year, but affordability continues to shape buyer behavior. Inventory nationally has improved from last year, giving buyers more choice without pushing prices into sharp declines.

This time of year typically brings less urgency and more selectivity and that pattern held true nationally. These broader conditions matter locally because they influence buyer confidence, financing decisions, and how aggressively homes are priced and negotiated.

What This Means for Sellers

Sellers should expect a slower pace and more discerning buyers. Pricing accurately and presenting the home well matter more now than earlier in the year. Well positioned listings are still moving, but the market is less forgiving of overpricing as winter approaches.

What This Means for Buyers

Buyers are gaining time and choice. With more inventory and longer days on market, there’s room for thoughtful decision making and negotiation. Preparation still matters, but speed is no longer the primary advantage, strategy is.