The Virginia Beach and Hampton Roads Area is Growing! ~ Hampton Roads Real Estate Ramblings

The Virginia Beach and Hampton Roads Area is Growing!

Wednesday, December 7, 2016

Hello Hampton Roads,

The Virginia Beach and Hampton Roads Area is growing!

As Bob Dylan said, "the times they are a changin" and one of these changes I'll be telling you about today deals with the moving habits of Americans.  Did you know that the average American moves 11 times in their lifetime?

This recent  blog article from Abodo  analyzes the numbers from 2014-2015 and talks about the top 10 MSAS (Metropolitan Statistical Areas) losing the most residents and the top 10 MSAs with the most New residents.  Suprisingly our area (VA Beach- Norfolk - Newport News- VA-NC) made the number 1 spot for both lists but had an overall gain in terms of folks moving here.

QUOTE: "Our recent study shows that people are moving into the Virginia Beach/Norfolk/Newport News area at a rapid rate. Experts have noted that the growing cost of housing has pushed a large number of residents out of major cities across the country, but this analysis shows that this is not the case in Virginia Beach, with 10.53% of people having moved into the area between 2014 and 2015."---Sam Radbil, Sr. Communications Manager at ABODO


As more people move to area, this will put upward pressure on home prices and already we are seeing higher trends in mortgage rates.  Looking at BankRate.com, we see 30 year interest rates in the low 4% range.

We live in a popular area and more and more people seem to agree as the number of new residents grows.  If you are considering buying a home, this is a good time to make your move!

Thanks for Reading,

View Liz Schuyler- CDPE, SFR, e-PRO's profile on LinkedIn _________________________

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