Market Report RVA

Yes, I have seen the rise of the interest rates. Yes, I have acknowledged the low inventory of housing here in Richmond. And yes, I cannot be uber positive about you FHA’ers. This is a strange market, as there was a significant lull up until the beginning of the month and although that change has been in the financing realm, I’m starting to see the past frenzy of over askings and inflated prices happening again.

I am also starting to see the Inspection returning, which in my opinion and as a Buyer’s Specialist, is a comfort. More people are moving here whether it’s for the jobs, for diversity, affordability or just how cool we are. The mixed use constructions around the city are becoming a stamp on the growth we are seeing and I wonder, just how fast are we growing? Traffic at 3:44pm is telling a story!

So, here’s a look at the overall tri-city picture. I’m always happy to sit with you and explain these stats or talk to you about your plans and how this all affects your home selling or buying plans.