February shows the start of springing forward. As reported by the Northern Virginia Association of Realtors® (NVAR), Northern Virginia witnessed a 2.2% increase in home sales compared to the previous year – the first year-over-year growth since late 2021. Total homes sold increased by 16.3%, which means there is sustained interest in home buying. With more listings entering the market and buyers showing willingness to invest more, the spring real estate market appears promising. Demand remains high, homes continued to sell swiftly, and the median sold price increased 11.8% from February 2023. However, despite ongoing economic growth, NVAR forecasts a potential downturn in overall sales activity for 2024. This emphasizes the importance of seeking guidance from an experienced Realtor® to navigate these evolving market dynamics.