‘Twas the night before Christmas and all through the state
Every REALTOR® was thinking, well, wasn’t that great!
The market was crazy all through the year
So, it’s time to sit back and relax with a beer
Or a Coke or some wine or a nice cup of tea
To reflect on the year that made history.
It’s true 2020 was a year to behold,
But during this year, even more homes were sold.
Yes, home sales were up, and prices were, too.
There were buyers a-plenty, but sellers were few.
Mortgage rates stayed historically low
Which led to demand that would grow and would grow.
Homes listed for sale were sold in a flash
With so many buyers bringing their cash.
The market stayed on a steady ascent,
With the median price up 10 percent.
More rapid than falcons, the offers they came
And, so, REALTORS® wrote contracts and tried to stay sane!
Oh Danville, oh Bristol,
Your prices rose fast.
Oh Nelson, oh Rockbridge,
Supply will not last.
From the shore at the east to the hills way out west
Each local REALTOR® felt sort of stressed.
Remote work and learning all in one place
Led many of us to seek out more space.
The busiest markets under the sun
Were in Accomack County and old Northampton.
With shoppers from NoVa and second home buyers,
Eastern Shore markets were hot as wildfires.
And, then, don’t forget how Valley homes fared
Where all those homeowners were in no way prepared
For the surge coming down from the north of the state
Who though that Clarke and Augusta looked great!
Home sales were up year over year until fall
When, finally, we saw that they started to stall.
The market’s still strong, just to be clear,
Just more seasonality than there was last year.
There are other things on which people can spend
Like trips to see family or meals with a friend.
And prices are high, making buying a chore
For buyers with less than a great credit score.
At the end of this year, supply is still tight
Though an increase in options could well be in sight.
While the market has eased, there’s no need for concern,
The numbers are good for a strong spring return.
So, let’s raise a glass to toast our good cheer.
Peace and love to us all, and a Happy New Year!