Van Rose of Rose and Womble and TBA President Pete A Kotarides at media briefing.
The Homearama homes at Culpepper Landing are in “the sweet spot” – that is, the price range that is selling well in the current Hampton Roads new home market.
That’s according to local real estate prognosticator Van Rose, who predicts this year’s crop of 12 showcase homes will sell by the end of Homearama. The Tidewater Builders Association showcase of homes is open Oct. 3-18.
Rose is president of Rose and Womble’s New Homes Division. He told a gathering of builders and media representatives that new homes in the $350,000 to $450,000 price range are approaching a healthy market – one that’s good for both buyers and sellers.
He bases his analysis on how long it would take to absorb the current inventory of new homes in that price range. In this case – about 5 months.
Culpepper Landing developer Tim Culpepper told the group 5 Homearama homes are sold with negotiations under way on several others.
To view the coverage from WAVY-TV, click here. To hear Van’s complete remarks, click here.
