Richmond Housing Market - Recovery is Under Way!!!

http://www2.timesdispatch.com/business/business/2012/apr/25/tdbiz01-recovery-seen-for-local-state-housing-mark-ar-1866438/

Although prices of real estate in Richmond are still falling, they are doing so at a much more modest rate which suggests stabalization in the housing market. In addition to this fact, inventory of houses for sale and the amount of distressed and foreclosed property on the market is in decline too.

"Positive job growth combined with increased home sales and lower inventory levels will lead to an increase in sales prices," said Shanna Wiseman, president of the Central Virginia Multiple Listing Service.

Not sure if this market uptick is due to historic low mortgage rates, depressed home values, or the premature spring weather, but numbers are looking strong and foreclosures are down.

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