What Buyers & Homeowners Can Expect from the 2026 Virginia Beach Housing Market

National and Virginia Beach forecasts point to a more balanced 2026 housing market with modest price growth, easing mortgage rates, and more listings for buyers and sellers.

What the 2026 Housing Forecast Means for Virginia Beach Buyers & Homeowners

The 2026 housing market is already taking shape, and Virginia Beach buyers and homeowners are asking one big question: Will it finally get easier to make a move?

According to national projections from the National Association of REALTORS® (NAR), Realtor.com, and Zillow, the next 12 to 18 months should bring steady, sustainable improvement across the U.S. housing market — and Virginia Beach real estate is expected to follow a similar path.

We’re not looking at a dramatic reset, but 2026 is shaping up to be a healthier, more balanced market that benefits both buyers and sellers.

Sales Activity: A Gradual Rebound Ahead

All three major forecasts project an increase in national home sales in 2026 as affordability improves and demand recovers.

National projections:

• NAR: 14% increase in existing home sales

• Zillow: 4.3% rise to 4.26 million total sales

• Realtor.com: 1.7% increase to about 4.13 million existing home sales

Realtor.com remains cautious, noting that nearly 80% of homeowners still hold mortgage rates under 6%, which could limit turnover.

In Virginia Beach, the pace of recovery will likely depend on how quickly new listings move under contract. Early signs from the Hampton Roads REALTORS® Association (HRRA) show days-on-market gradually shortening, signaling rising demand.

Home Prices: Modest Gains, Strong Equity

Experts agree: prices will keep rising, just at a slower and healthier pace than during the pandemic boom.

National outlook:

• NAR: Prices up about 4%

• Zillow: Prices up 1.2%

• Realtor.com: Prices stabilizing with fewer markets seeing declines

Zillow expects the number of metro areas with falling prices to shrink from 24 in 2025 to just 12 in 2026.

In Virginia Beach, Local MLS data shows median home prices hovering near $390,000 as of late 2025, with continued demand from military relocations and retirees helping to support steady price growth through 2026.

For sellers, that means continued equity gains. For buyers, it means more negotiation room than the frenzied bidding wars of 2021–2023.

Mortgage Rates: Better, But Not 3%

Mortgage rates are expected to hold around 6.3% on average in 2026 — better than 2025, but nowhere near pandemic lows.

Forecasts agree:

• Realtor.com: 6.3% average rate

• NAR & Zillow: Slight downward trend, no major drops expected

Locally: Many Virginia Beach buyers will benefit from temporary rate buydowns offered by builders and lenders. Connecting with a trusted local mortgage professional early can help identify opportunities for rate incentives or down payment assistance.

Inventory: Finally Moving Toward Balance

After years of tight supply, inventory is increasing nationwide and in Hampton Roads.

National trends:

• 8.9% rise in existing home inventory

• 4.6 months of supply nationally (a balanced market is typically 5–6 months)

• Builders expanding incentives to keep new homes selling

Locally: The Virginia Beach MLS shows active listings up nearly 9% year-over-year. Buyers will enjoy more options, while sellers still benefit from healthy demand.

Affordability: Small Shifts, Big Impact

For the first time since 2022, national affordability metrics are improving.

Key highlights:

• Typical payment share of income dropping to 29.3% (below 30% for the first time in four years)

• More first-time buyers re-entering the market

• Rent affordability is improving, allowing renters to save faster

In Virginia Beach: Rising inventory and income growth from new employers in the region (including defense and tech sectors) could help more renters transition into homeownership by mid-2026.

What This Means for Virginia Beach Buyers

If you’re planning to buy a home in 2026, small improvements will add up:

• Slightly lower borrowing costs

• More homes to choose from

• Less intense competition

The smartest move? Connect with a local lender and REALTOR® early to define your budget, timeline, and ideal neighborhoods.

What This Means for Virginia Beach Sellers

For homeowners thinking about selling in 2026, conditions remain favorable:

• Prices and equity are still rising

• More buyers can now afford to move

• Demand remains strong across key price points

However, buyers are becoming more payment-sensitive, so strategic pricing and presentation are key.

The Bottom Line

National and local forecasts point to a more balanced, opportunity-filled housing market in 2026. For Virginia Beach, that means more listings, stable prices, and a clearer path for buyers and sellers alike.

If you’re thinking about your next move, let’s talk strategy. I specialize in helping Virginia Beach homeowners and buyers navigate every market cycle with confidence.

FAQs

Q1: Will home prices in Virginia Beach drop in 2026?
Unlikely. Forecasts show modest growth, not declines, supported by continued demand and limited new construction.

Q2: When will mortgage rates fall below 6%?
Rates may edge lower in late 2026 but are expected to stay above 6% on average.

Q3: Is 2026 a good time to buy or sell in Virginia Beach?
Yes. Buyers gain more choices and manageable payments, while sellers benefit from stable demand and strong equity positions.

Thinking about buying, selling, or relocating to Hampton Roads?
I specialize in military relocation, coastal living, and hyper-local insight.
Let’s make your next move strategic and stress-free.

Written by Megan Luker, REALTOR® | Virginia Beach Military Relocation Expert, Navy Wife & Mom
Licensed REALTOR® in the Commonwealth of VA at ΓEA⅃ Broker, LLC
📱 757-703-1590 (direct) | ☎️ 855-450-0442 (office)
📍 1765 Greensboro Station Place, 900 McLean, VA 22102
📧 megan@lukerativegroup.com

Sources:
National Association of REALTORS® (NAR) | Realtor.com | Zillow | Hampton Roads REALTORS® Association | Virginia Beach MLS