The Richmond story continues to differ from the national narrative that we hear about in the news. The low inventory in our market means that sales are happening quickly and prices are remaining high. While we’re seeing a small percentage of price drops, we are also still seeing plenty of over-ask offers. Interest rates are around 6% now and most believe they’ll settle in the neighborhood of 5-6%. All in all, not the dramatic story we were concerned about earlier this year. If you have any real estate needs, give me a call and let’s see how I can help.
Market Snapshot: June 2022