Metro Richmond is seeing the strongest home sales growth among Virginia’s major metro areas at this year’s halfway mark.
Why it matters: Richmond is showing that a hot housing market doesn’t always mean hotter home prices.
State of play: Richmond home sales rose by roughly 10% in the first half of the year, nearly double the 5.5% statewide home sale growth, per Virginia Realtors Association stats shared exclusively with Axios.
- RVA’s home sales growth toppedVirginia’s 10 metro areas, Virginia Realtors chief economist Ryan Price tells Axios.
- And it comes amid the state’s busiest spring housing market in four years and as interest rates continue to hover near 6.5%.
What they’re saying: “The pent-up demand is very evident because even with those interest rates not really cooperating, we’re still seeing more sales,” Price tells Axios…