Will Home Prices Go Down? The Late 2026 Forecast

The short answer in late 2026 is still no: the data released for September 2026 shows prices up, not down, across Hampton Roads, and none of the major forecasters is calling for a drop. If you have been waiting on the sidelines for a price correction before buying a home in Virginia Beach, here is what the actual numbers say and what they mean as we head into 2027.

What the September 2026 Data Shows

The REIN regional numbers for September 2026 put the Hampton Roads median sale price at $375,000, up about 2.7% year over year. That is a slower, steadier pace than the jumps of a couple of years ago, but it is appreciation, not decline. Median days on market held around 30, and inventory has been climbing, up more than 16% year over year with supply near 2.9 months. More choices, yes; falling prices, no.

Virginia Beach ran hotter than the region. Detached homes in the city sold at a September median of about $472,000, typically going under contract in about 17 days with sellers receiving 98.6% of their original list price and only 1.4 months of supply. Attached homes came in near $305,000 at a 15-day median and 1.8 months of supply. None of that reads like a market where prices are heading down.

What the Forecasters Say About 2027

Every major national forecast points in the same direction. Fannie Mae's panel of more than 100 housing experts projects growth around 2.1% for the year, with its internal forecast closer to 1.3%. Zillow trimmed its 2026 call to roughly flat, around 0.3%, and Realtor.com sees about 2.2% growth. The National Association of Realtors forecasts 4.0% year over year and CoreLogic projects about 4.3% over the October 2025 to October 2026 window. The debate is how much prices rise, not whether they fall. If you are following the Hampton Roads market report, I keep these updated as each release lands.

Why Prices Are Holding Firm

The reasons are structural, not sentimental. Inventory is improving, but it is still well short of a balanced market, so leverage remains with sellers. Demand keeps coming from the region's enormous military population with steady PCS movement, plus growing families, move-up buyers, and investors. Hampton Roads did not overbuild the way some faster-growing Sun Belt markets did, and that is exactly why this region tends to appreciate in a straight line rather than a boom-bust cycle. Prices here have always been steadier than the national narrative suggests.

What Waiting Costs You

Waiting for a crash that the forecasters do not see is usually a losing strategy. Every month you wait, prices edge up and you keep paying rent, and when rates move, buying power shrinks. If you find the right home and the payment fits, the smart play is to buy now and build equity, not to hold out for a drop that the data does not support. The home valuation page lets you see what a specific address is doing in this market if you are thinking about either side of the transaction.

For Sellers: The Same News, Different Angle

If you are selling a home in Hampton Roads, the late 2026 data is reassuring: your equity has kept growing, and the market is normalizing, not collapsing. The one thing that has changed is that you can no longer list 10% over and wait. In a more balanced market, pricing right from day one is what gets you the strongest result, and buyers are asking for concessions and repairs again. That is healthy, and it rewards preparation. Our selling guide walks through exactly how to position a home in this market.

The Bottom Line

No, home prices are not forecast to go down in late 2026, and the September data confirms it. Hampton Roads is appreciating slowly and steadily while inventory recovers, which is a healthy, balanced market, not a bubble. For buyers, the message is to stop waiting for a correction that is not coming. For sellers, it is to price smart and prepare well. Either way, I have got you. Talk soon.