Charlottesville, VA (CVILLE RIGHT NOW) – Michael Guthrie, the President Emeritus of Howard Hanna Roy Wheeler Realty Company and host of Real Estate Matters, joined Morning News to discuss the state of the housing market and what buyers should know heading into the spring. Guthrie, who will be airing his full show at 10:00 AM tomorrow, emphasized the increasing importance of acting now if you’re considering purchasing a home. “Now is the time to buy,” he said. “Prices are going to continue to go up… building materials are going to be higher, at least for a while… New construction right now is 20% of the market.”

Recognized for his community involvement and advocacy, Guthrie was recently inducted into the Charlottesville Area Association of Realtors Hall of Fame. During the interview, he expressed concern about the continued rise in home prices, pointing to elevated material costs and the growing share of new construction, which now accounts for 20% of the market. “Prices aren’t coming down,” he said. “I don’t see any signs that it’s going to change, but I do see everything saying that prices will continue to rise.” He urged potential buyers to start conversations with lenders and agents now, emphasizing that informed, early action can make all the difference.

He also noted a trend of prospective renters turning into buyers due to limited rental inventory and high rental prices. He cited friends who planned to rent in Charlotte but ended up buying because they couldn’t find a suitable rental. “They ended up buying the house and they’re closing on it at the end of April,” Guthrie said. For those planning to stay in the area long-term, he concluded, buying is still one of the soundest financial decisions they can make.

Listen to the full conversation here: