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The median price of a home that sold in Northern Virginia in January was $650,000, 6.6% higher than a year earlier, according to the Northern Virginia Association of Realtors.

The Northern Virginia housing market remains much tighter than the national average, with the number of homes for sale last month representing just a 0.74-month’s supply, compared to an average 3-month supply of inventory on the market nationally.

As a result, fewer buyers are finding what they are

The housing market is finally starting to normalize after an exhausting and wild three years. But even normal is a bit weird in the world of real estate. Even though home prices are falling, interest rates remain astronomically high, barring many from being able to afford homes.

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And then you’ve got everyone on the other side of the equation: the homeowners. They’ve got the most to lose because their homes probably are their biggest assets and biggest

A substantial settlement recently announced by a US group representing more than one million Realtors has real estate experts hopeful Canadian home sellers could soon get a better deal.

Last week, the US-based National Association of Realtors (NAR) agreed to pay $418 million US to end legal claims from home sellers that alleged the group artificially inflated real estate commissions.

The NAR, which denied any wrongdoing in the case, it has also been agreed to eliminate the standard six per cent sales commission and do away with other commission rules.

The landmark settlement in the US is playing out at

Your home is your sanctuary, but it’s also one of your biggest budget items. And after you retire, it may feel like more home than you need. But in this housing market, when a smaller home with upgraded features may be about as expensive as the one you’re selling, is it still smart to downsize?

In some cases, downsizing is appropriate, but not necessarily money-saving. You may be able to sell your house and buy something cheaper, but it might also make sense to downsize to move closer to family or have less house to clean.

It’s important to be