Advertisement

Virginia home price growth projected to slow into 2022

Published: Sep. 24, 2021 at 4:33 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

ROANOKE, Va. (WDBJ) - Across Virginia, the rate of home price growth is forecast to slow down into next year.

That’s according to the Virginia Realtors Association.

They say home prices will continue to increase, but at a lower rate. One reason for that, they say, is expanding inventory in the market.

“What it means is that there’ll be still a lot of competition in the market, but as we’re seeing inventory expand a little bit, buyers are gonna have a little bit more choice than they had, let’s say six months ago,” said Lisa Sturtevant, Virginia Realtors chief economist. “Affordability has become a major challenge for many prospective buyers and so folks are stepping out of the market.”

Virginia Realtors says we’re still in a sellers’ market for now.

Copyright 2021 WDBJ. All rights reserved.