Between price increases and climbing interest rates, the average Hampton Roads homebuyer needs to make $48,000 more annually to afford a new mortgage than they did a year ago. That’s according to a new real estate forecast from ODU’s E.V. Williams Center for Real Estate. The ODU report shows evidence the Hampton Roads housing market is loosening up a little, but that hasn’t translated to declining prices. Home sales have come way down from their pandemic peak - 2023 saw 40% fewer closings than the high point in 2021. Read more by visiting whro.org/news. #whro #whropublicmedia #virginia #hamptonroads #757tiktok #757 #housing #localnews #npr