Richmond Home Prices Down From A Year Ago, But Signs of Stability Becoming Evident

Although prices are down from last year averages in the Richmond Metro Area, we have had two months in a row of growth in that sector, indicating the market is beginning to stabalize.

"The sell-off of distressed inventory, particularly foreclosures, obviously is contributing to the continued softness in sale prices," Lafayette said. "If we were to exclude foreclosures, the numbers would bump up."

It's a great time to buy before home prices begin bouncing back and while interest rates are still at all time lows!!!


http://www2.timesdispatch.com/business/business/2011/jul/01/TDBIZ01-area-home-prices-still-down-from-a-year-ag-ar-1144928/