HAMPTON ROADS, Va. (WAVY) — Will the Hampton Roads real estate market be strong as we start the new year? Much like Tuesday's low temperatures, the housing market is still freezing. Low inventory and high prices are still poised to impact home buyers in 2025. And while a recent shortage of houses has some buyers frustrated, that's starting to change. One of the top experts in Hampton Roads, however, believes this is a strong market. Statewide, Virginia Realtors expects home sales to increase by about 9.8% throughout 2025. Part of what's working in buyers' favor is a low interest rate, just under 7%. "Hampton Roads has been a strong market," said Jay Mitchell of Berkshire Hathaway HomeServices RW Towne Realty and president of the Hampton Roads Realtors Association. "We've seen a lot of buyers and sellers out there, and we've seen a very robust market. We expect that to continue. There's no reason for it not to. Inventory is still low, [and] people still have to buy and sell. People still want to have a house, and so they've got to have a place to live somehow. But like everywhere else, inventory is still low, and Mitchell said he does not think prices will go down. If anything, they might increase this year. Still, he says the younger generation makes up the fastest growing group of home buyers, especially since rent prices are going up. He encourages new home buyers to have a plan, get help from professionals and start saving. "Because it may be a year down the road, it may be six months down the road, but hopefully you'll be someplace where you can build your wealth by starting early," Mitchell said. Mitchell believes the biggest mistake sellers are making is not pricing their house correctly. He said the only reason a house wouldn't sell is because it is overpriced. Another element looming in 2025 is the impact of the next president's economic agenda. Mitchell said it will be hard to predict how these things will affect the housing market until they happen.