Lower Rates, Mixed Results - But Momentum Holds

As mortgage rates dipped to their lowest level in three years — now just under 6% — buyers across the Virginia Countryside and West Virginia Panhandle responded. Total new contract activity rose 9.2% compared to the same week last year.

Key Takeaways

• Total contract activity increased 9.2% year over year.
  The Virginia Countryside drove the gain with a strong 32.2% weekly increase.
• West Virginia experienced a slight pullback, though year-to-date activity remains positive.
• Mortgage rates falling below 6% likely contributed to renewed buyer engagement.
• Days on market continue to climb, rising from 38 days last year to 57 days last week

Why It Matters

• Lower borrowing costs are clearly stimulating demand, particularly in the Virginia Countryside where affordability and lifestyle appeal intersect. A 32% surge in contracts is not a small move — it reflects confidence and responsiveness to rate changes.
• At the same time, the rise in days on market mirrors what we are seeing in the metro area. Buyers are active, but they are no longer operating with urgency. Increased inventory and greater choice are extending timelines.
• This is a healthier pattern than the rapid-fire pace of recent years. Momentum is building, but it is measured.

The Real Estate Details

• Virginia Countryside was up 32.2% for the week and 17.9% year-to-date.·
• West Virginia Panhandle was down 5.2% for the week, but up 9.8% year-to-date