There are many Richmond area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (804) 545-6648 for a FREE home buying or selling consultation to answer any of your real estate questions.
As a whole, the housing market is stronger today than it has been at any point since the bottoming out of The Great Recession in 2009. Home sales are up 16% nationally from that time and everything is trending in the right direction.
Earlier this year we saw very low inventory and couldn't find homes for a lot of our buyers. At this time of year however, we are seeing a rise in inventory, which will bring down home prices a bit.
However, interest rates are expected to increase greatly by this time next year. This figure could be as much as 5.5% according to the National Association of Realtors. When you couple that with the increase in inventory we will see over the next year, it will make buying a new home that much more difficult. Now is the best time to sell your home, no question about it.
With so much static in this marketplace, it's difficult to decide where to invest your hard earned money for the greatest return. A recent Gallup poll has helped to clarify this conundrum. For anybody making over $30,000 a year, real estate is by far your best investment. It has a greater return on investment on average than either gold or stocks.The return on investment in real estate is 65% since 2000 (including the collapse in the late 2000's), compared to a 51% ROI for the Dow.
There is a lot going on in the market and a lot to keep track of, so I want to keep current for you. I want to keep you updated on all the latest market trends. If you have any questions about anything in my article or video, please call or e-mail me and I would love to answer your questions.
