Strong market continues

Published 11:42 am Tuesday, December 26, 2017

RICHMOND — According to the November 2017 Home Sales Report released by the Virginia REALTORS®, the residential real estate market hasn’t lost strength as the year draws to a close.

“Year-to-date volume (the sum of all sales) for the period January through November rose 8.8 percent over the first eleven months of 2016, from $35.244 billion to $38.349 billion,” officials said in a press release. “Year-over-year, transactions in the month of November rose by 3.9 percent, from 8,648 in 2016 to 8,982 in 2017. Strong demand has characterized the 2017 market.”

Jay Mitchell, 2018 President of the Virginia REALTORS®, is confident that the market strength will continue in 2018.

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“November sales show there are still buyers in the market who are ready to make the deal if they can find the house they want,” said Mitchell in the release. “While the fourth quarter can typically slow, we are still seeing tight inventory and high demand from buyers for homes