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Home Sales Up in Richmond!
A welcome headline this morning in the Richmond Times Dispatch! “RICHMOND-AREA HOME SALES RISE”. They reported that Richmond Area homes sales rose in the third quarter by 1.6% compared to the same quarter in 2007. Hanover and Henrico counties saw positive growth of about 2%. The average price for a home remained flat in the Richmond area at around 239,000.
The Richmond area continues to out perform the rest of the country, most other metro areas and the state as a whole. Sales of existing homes in the country fell by more than 10% nationwide in August and statewide sales by fell by about 4%.
The Richmond is showing a great economic resilience in the housing market. In addition to Hanover and Henrico county home sales being up, Chesterfield County home sales were up 0.1% and Goochland home sales were up 2.7%. The City of Richmond homes sales were down only 0.5%.
This bit of stabilization could be attributed to many home buyers taking advantage of the current buyers market. There continues to be motivated sellers in the market proving now is a great time to buy a home.
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