REALTORS® in Virginia Report that Sellers Are Having Difficulty Finding Buyers Willing to Pay Their Asking Prices

By Abel Opoku-Adjei 

Research Associate, Virginia REALTORS® 

Each month, the Virginia REALTORS® Confidence Survey gathers important information from REALTORS® on local housing markets based on their experiences with real estate transactions in the prior month. This data provides a real-time look at housing market conditions. This month’s Confidence Survey was conducted between June 24, 2026, and July 1, 2026, and reflects housing market conditions in Virginia in June 2026. A total of 385 Virginia REALTORS® members responded to the survey, including 305 who participated in a home sales transaction in the past month. 

Current Market Conditions 

Buyers  

Buyer activity in June remained the same as last month, according to REALTORS®. The buyer activity index in June was 42, unchanged from the prior month. About 18% of respondents considered buyer activity in their local markets as “high” or “very high,” whereas 35% viewed it as “low” or “very low.” 

Survey respondents indicated that 29% of their most recent June transactions involved first-time home buyers, remaining unchanged from the previous month. About 19% of them completed all-cash deals in June, which is a 1% rise from last month. Additionally, roughly 19% of REALTORS® worked on transactions involving non-primary residences, such as rentals, second homes, or vacation properties, representing a 4% increase from the previous month. 

REALTORS® reported an average of 2.3 offers in June, up from 2 offers in May. Nearly 32% of REALTORS® said their clients received offers above the listing price in June, down 6% compared to May.  

Sellers 

REALTORS® in Virginia experienced increased seller activity this month. The Seller Activity Index increased to 45 in June from 40 in May. Approximately 15% of REALTORS® reported that seller activity in their area was “high to very high,” while 25% indicated it was “low to very low” in June.  

Obstacles  

Buyers 

Economic worries currently affecting the market have prevented some clients from participating in the buying process. The survey revealed that 21% of REALTORS® identified limited housing options as a significant obstacle for their clients. Around 12% cited high mortgage rates as the main challenge, while about 11% noted that clients find it hard to save for a down payment. The survey respondents continue to note that their buyer clients are struggling to sell their initial homes in this market.  

Sellers 

Around 14% of survey respondents indicated that their seller clients hesitated to sell in June because of low interest rates on their current homes. An additional 8% encountered challenges in locating suitable properties due to limited inventory. Nearly 17% cited rising home prices as the primary obstacle to selling. Sellers continue to struggle to find buyers willing to meet their listed prices.  

Pending Sales Activity 

There were 10,52 pending sales across the Commonwealth in May, a 3.51% increase from the previous year, which is 357 more pending sales. Although most pending sales close successfully, delays and failures can happen for various reasons. The survey recorded that 221 real estate agents in Virginia had at least one seller client with a purchase agreement, and 58 of these deals did not close as expected. 

In the June survey, respondents identified key reasons for contract failures. About 45% cited inspection issues, approximately 23% noted clients couldn’t sell their homes on time, and nearly 21% experienced delays in mortgage approval. Additionally, nearly 15% encountered title problems, while 15% reported low appraisals.   

Reasons For Selling 

Our survey revealed the primary reasons, from REALTORS®’ perspectives, why sellers are selling their homes in Virginia. Approximately 29% of REALTORS® said their clients are relocating out of state in June, while 10% indicated their clients are considering moves within Virginia. Additionally, 17% noted clients wanting to downsize locally, and 19% reported clients seeking larger homes nearby. Lastly, about 6% of agents mentioned their clients are selling a second property this month.  

Market Outlook 

REALTORS® remain pessimistic about future buyer activity as the 3-month index outlook drops again. This index reflects REALTORS®’ expectations for market activity over the next three months, decreasing to 42 in June from 46 in May. Approximately 11% of respondents expect increased buyer activity in their local markets, while 27% foresee a sharp decline.

Results From Virginia REALTORS® Confidence Survey 

In June, the Seller Activity Outlook Index for the upcoming three months decreased to 42 from 46 the month before. About 15% of Virginia REALTORS® expect an increase in seller activity next quarter, while 19% anticipate a decline from July through September. Additionally, REALTORS® forecast home price trends for the next three months: roughly 31% expect prices to rise, 30% believe prices will remain steady, and 34% predict a decrease. 

Virginia REALTORS^® Confidence Survey: 2026 Highlights

A An index greater than 50 indicates more respondents reported the level of activity as “high to very high” than reported the level of activity as “low to very low.”

B An index greater than 50 indicates more respondents expect future activity to be “strong” than expected future activity to be “weak.”

A note about surveys: This is not a randomized sample survey of Virginia REALTORS^® members. However, the number of responses and the geographic coverage of respondents make it possible to draw conclusions about the opinions and expectations of Virginia REALTORS^®. The statistics from this survey have a margin of error of +/- 4.1 %.

Responses to our surveys are confidential. We do not look at individual responses but rather report data in the aggregate.

For more information about Virginia’s housing market, check out our most recent home sales report, and local housing market data.