Posts from September 11th, 2017
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11
July Home Prices Surge Six Percent in a Year
RICHMOND, Va. (August 23, 2017) – According to the July 2017 Home Sales Report released by the Virginia REALTORS®, there is no slackening in the residential real estate market. Year‐to‐date volume (the sum of all sales) for the period January through July rose 9.7 percent over the same period in 2016, from $22.411 billion to $24.593 billion. Year‐over‐year, transactions in the month of July contracted by less than half of one percent, from 11,549 to 11,495. Inventory constraints continue to affect the number of sales and also drive price upward, as eager buyers demand more than the current market supplies.
Claire Forcier‐Rowe, 2017 President of the Virginia REALTORS®, shares "Low rates and lasting consumer confidence have propelled buyers into Virginia's market faster than sellers are committing to list their properties. Withou...