Housing Market Update For Richmond
Sales To Active Listings Ratio
The recent months hikes in mortgage rates to the mid 4.5% range for 3 and 5 years fixed mortgages, the Richmond housing market responded with very weak demand from home buyers. Many of th epropective buyers are holding back to find out how the market will turn out.
Both detached homes and townhouses in Richmond were now in Seller's market territory. It appears that Richmond condos are likely to follow.