Virginia home sales down in November, but prices, counterintuitively, holding strong

The Virginia home-sales market cooled a bit in November, per data from the November 2025 Virginia Home Sales Report released by Virginia REALTORS® on Monday, with closed sales down 5 percent year-over-year to November 2024.

The drop from October 2025 was much more pronounced – 16.8 percent from month-to-month.

Beware the fake economics numbers spit out at you by the Trump administration, basically.

The Trumpers don’t get their hands on raw home-sales data in Virginia.

“As delayed data has become available following the shutdown’s end on Nov. 12, we’re gaining a clearer picture of current economic conditions,” Virginia REALTORS® Chief Economist Ryan Price said.

Bad news on the affordability front: even with the decline in closed sales, home prices continued to rise across most of Virginia, with more than eight out of 10 local markets seeing higher median sales prices compared to last November.

The statewide median sales price reached $425,000 in November 2025, up $10,000 from a year ago – a 2.4 percent increase.

This would seem counterintuitive – fewer homes sold, meaning there should be more homes on the market, ergo, shouldn’t prices be going down?

But then you have Donald Trump whining in public on Monday about how he doesn’t “want to knock those numbers down,” because he wants existing homeowners “to continue to have a big value for their house.”

“At the same time,” Trump said, “I want to make it possible for young people out there, and other people, to be able to buy a house. In a way, that conflicts. In other words, you create a lot of housing, all of the sudden, it drives prices down.

“I want to take care of the people that have houses, that have a value to their house that they never thought possible, sort of makes them wealthy, and happy, especially in their later years. Be careful with that, I want to keep them up. At the same time, I want to make it possible for people to go buy houses.”

Um, pretty clearly, current housing policy is erring on the side of protecting my wealth at the expense of people who are renting being able to become homeowners.