Our economy has certainly been sent into a tailspin since the onset of the COVID-19 pandemic and this will affect our housing market in the days to come. Let’s take a look at our most recent stats for the Metro Richmond, Virginia area and the month of March.
Overall, our new listings, sales and average sales prices are up over this time last year, that’s a good thing. But, really, most of these numbers are a reflection of what was happening in January and February prior to all the restrictions and such that we are now facing today. It will be very interesting to see what April and May stats bring us and will be more indicative of how the pandemic has affected the housing market.