This is a report on the National economy, the National Real Estate market and the Greater Richmond Real Estate Market produced by Lacy Williams, Associate Broker at Joyner Fine Properties
This document contains slides from a presentation by Lacy Williams of Joyner Fine Properties on the Greater Richmond real estate market. The slides provide information on national economic data, the national housing market, and the Richmond area housing market. Key points covered include sluggish US and Virginia economic growth, declining homeownership rates, low housing inventory nationally, and inadequate new home construction starts. National consumer confidence and small business optimism increased significantly following the 2016 US election.
This report describes the national and local Greater Richmond real estate market. Please contact Lacy Williams at 804-864-0316 for additional information
The document analyzes the real estate market in Greater Richmond from 2010 to 2012. It finds that the number of single family home sales increased by 18.7% between 2010 and 2012, with the greatest increase occurring at higher price points. Inventory levels are below normal in most of the region. Home prices rose overall in this period, with the greatest increases in the city of Richmond and higher price points.
This document provides a summary of the national and local real estate markets in December 2013. It includes graphs and analysis of national housing indicators such as home prices, sales, inventory and distressed properties showing the market has stabilized and is recovering. The local Richmond, VA market summary shows an increase in home sales, prices and declining inventory over the past two years, indicating the local market is also improving from the downturn. Overall, the national and local housing markets are recovering from the recession of 2006-2012.
The document provides an overview of the national and Richmond, VA housing markets in October 2013. It includes the following:
- The national housing market has been in sustained recovery since 2011 with rising home sales, stabilizing prices, and declining inventory.
- The Richmond housing market has also seen rising home sales, with 2013 quarterly sales higher than previous years.
- Inventory levels have dropped significantly since 2010 in both the national and Richmond markets.
Keep up-to-date- on the real estate market in Richmond, VA. Lacy Williams, REALTOR in Richmond presents data to show what's really going on in the real estate market.
This document contains slides from a presentation by Lacy Williams of Joyner Fine Properties on the Greater Richmond real estate market. The slides provide information on national economic data, the national housing market, and the Richmond area housing market. Key points covered include sluggish US and Virginia economic growth, declining homeownership rates, low housing inventory nationally, and inadequate new home construction starts. National consumer confidence and small business optimism increased significantly following the 2016 US election.
This report describes the national and local Greater Richmond real estate market. Please contact Lacy Williams at 804-864-0316 for additional information
The document analyzes the real estate market in Greater Richmond from 2010 to 2012. It finds that the number of single family home sales increased by 18.7% between 2010 and 2012, with the greatest increase occurring at higher price points. Inventory levels are below normal in most of the region. Home prices rose overall in this period, with the greatest increases in the city of Richmond and higher price points.
This document provides a summary of the national and local real estate markets in December 2013. It includes graphs and analysis of national housing indicators such as home prices, sales, inventory and distressed properties showing the market has stabilized and is recovering. The local Richmond, VA market summary shows an increase in home sales, prices and declining inventory over the past two years, indicating the local market is also improving from the downturn. Overall, the national and local housing markets are recovering from the recession of 2006-2012.
The document provides an overview of the national and Richmond, VA housing markets in October 2013. It includes the following:
- The national housing market has been in sustained recovery since 2011 with rising home sales, stabilizing prices, and declining inventory.
- The Richmond housing market has also seen rising home sales, with 2013 quarterly sales higher than previous years.
- Inventory levels have dropped significantly since 2010 in both the national and Richmond markets.
Keep up-to-date- on the real estate market in Richmond, VA. Lacy Williams, REALTOR in Richmond presents data to show what's really going on in the real estate market.
This document is a slide presentation by Lacy Williams of Joyner Fine Properties analyzing the real estate market in Richmond, Virginia and nationally. It provides data and graphs on economic indicators, housing inventory levels, home sales, prices and mortgage rates from 2008 to the present. It shows that while the national market has recovered since the recession, inventory remains low leading to further price increases in many areas including Richmond.
This document provides an overview of the national and Richmond, VA housing markets. For the national market, pending home sales, inventory levels, home prices, and forecasts are presented showing an improving market. The Richmond market summary shows that after declines from 2005-2010, the number of single family home sales has increased each year since 2011. Sales for 2012 are up from 2011 levels. Condominium sales have also risen since 2011. Overall, the data indicates the local housing market is recovering.
RealPulseAZ - February 2021 - Market ReviewNathan Holman
The document provides an overview of the US housing market in February 2021. It summarizes existing home sales data from 2020, forecasts for home sales and prices in 2021 from various analysts, and projections for mortgage rates. It also discusses factors that may impact housing inventory levels in 2021 such as homeowners waiting for vaccines before listing. The average forecasted home price increase for 2021 across analysts is 5%.
The document analyzes data on the U.S. housing market from multiple sources. It shows that homeownership remains an important part of Americans' net worth and financial well-being. Home equity has rebounded from the housing crash, and rising home values are allowing more homeowners to build equity and fueling trade-up demand. Inventory remains low while home prices and pending sales are rising, suggesting the housing recovery is continuing. However, some experts warn price growth cannot last at its current rapid pace and will likely moderate in the coming years. Mortgage rates are also expected to inch up from current historic lows in 2014.
The housing market continues to gradually improve without government support. While home prices and sales have declined compared to last year, inventory levels have returned to pre-tax credit levels. Low interest rates are encouraging buyers, but are expected to rise over 2012. Employment growth needs to continue for a full housing recovery, as jobs enable people to buy homes. Stimulus efforts will gradually wind down, but buyers still have favorable conditions in the market.
This document contains a variety of charts and data related to the housing market from multiple sources such as NAR, Case-Shiller, Freddie Mac, and Moody's. It is divided into three main sections. The first section contains charts on pending home sales, existing home sales projections vs actuals, and year-over-year sales changes by price point. The second section discusses mortgage rates, affordability, home price valuations, and opinions on whether the housing market could be in a bubble. The third section focuses on marketing strategies and resources for staying up-to-date on housing market trends. The document aims to provide a comprehensive overview of the current state of the housing market from both economic and real estate professional
This document provides information about buying a home on the San Francisco Peninsula in 2010. It discusses the benefits of first-time homebuyer tax credits and low mortgage rates available at the time. The document outlines the current state of the real estate market in San Mateo County, which is considered a buyer's market. Key steps in the home buying process are reviewed such as getting pre-approved, making an offer, and completing inspections.
The document discusses the causes of the housing market downturn in Chicago and nationally. It argues that the primary cause was a lack of housing affordability as home prices grew much faster than incomes from 2004-2007. Creative financing using subprime mortgages allowed home prices to surge far beyond affordable levels for median income earners. Now that subprime lending has collapsed, home prices remain too high and sales have dropped dramatically as traditional lending standards have returned. The recovery will require a shift to more affordable home prices aligned with median incomes.
Ventura County Real Estate Update - Summer 2013John Wise
Real estate values have sharply increased in Ventura County primarily due to low housing supply. Factors driving the increase include high investor demand from large firms and groups as well as all-time low interest rates and pent-up demand. However, the increases may not continue indefinitely as factors like reduced investor demand, higher interest rates, and job growth could influence values going forward.
This document provides information about buying a home on the San Francisco Peninsula, including details about financing options, home buying tax benefits, and the current real estate market. It discusses:
- Federal stimulus programs that provide tax credits for first-time homebuyers and current homeowners making purchases through 2010.
- Historically low mortgage rates and the benefits of owning versus renting, such as building equity over time.
- An overview of the process for purchasing a home, from getting pre-approved to closing.
- Factors that make the San Francisco Peninsula housing market desirable such as location, schools, and weather.
The document provides an overview of the real estate market in May 2009. It summarizes that home prices have fallen to 2003 levels and inventory has stabilized. Mortgage rates are below 5% and affordability is high, making it a favorable time for buyers. Government programs are also helping more homeowners modify their loans to avoid foreclosure.
The residential and now commercial mortgage problem is still the biggest
issue facing the U.S. Economy. A year ago, I presented this Powerpoint
Slide show, "The Mortgage Mess" (see the attachment). It is very
interesting to see what has happened in the past almost 12 months.
* The situation has become worse, not better, in spite of throwing
hundreds of billions of dollars at the problem. The TARP funds were not
used as intended, and are being redirected for other purposes.
* The problem hasn't gone away. There will be as many foreclosures in the
next couple of years as have already occurred. One out of every seven
houses in the country is underwater: the home values are less than the
mortgages on the homes.
* Although the GDP shows some slight improvement, that is mostly due to
artificial stimulus, which cannot last.
* We are still losing 200,000 jobs every month; better than the 700,000
per month we were losing in the Spring, but still increasing nonetheless.
* Mark Zandi of Moody Economics has said within the last two days that
unemployment can be expected to peak at 10.6%; when counting in those who
have stopped looking and those who are underemployed (the engineer flipping
burgers), it is closer to 18% - 20%. Such unemployment rates cannot sustain
any solid economic recovery.
* The credit card bust is well underway. Whereas there were 400 million credit cards issued a year, now there are only 300 million in circulation,
and interest rates have increased significantly.
The document summarizes recent developments in the US housing market. It discusses signs of recovery including lower mortgage rates and inventory. Government programs like the FDIC principal reduction program aim to help troubled homeowners. Jumbo mortgages are becoming more available again after tightening during the financial crisis. The tax deadline is approaching and the document provides tips for homeowner tax deductions and credits.
The document summarizes recent developments in the US housing market. It discusses signs of recovery including lower mortgage rates and inventory. The government is taking actions like testing principal reduction to help homeowners. Topics covered for buyers, sellers and owners include tax deductions and credits. The local market varies so talking to a real estate agent is advised.
19201 Collins Ave-Unit 333 for sale in Sunny Isles Beach, FL-Property ReportJorge J Gomez
This property report from Jorge J Gomez Realtor provides information on a condo unit located at 19201 Collins Ave, #333 in Sunny Isles Beach, FL. The 360 square foot condo has been recently remodeled and is fully furnished. It is listed for sale at $120,000 and has been on the market for 240 days. Contact information is provided for the listing agent, Jorge J Gomez.
This corporate profile document provides an overview of Toll Brothers, the largest luxury home builder in the United States. Some key points:
- Toll Brothers focuses on the luxury home market, with an average delivered home price of $725,000 in FY2014, more than double the average of other large public home builders.
- It has a nationwide footprint across 19 states and approximately 50 markets, and is expanding its urban presence in cities like New York, Washington D.C. and Philadelphia.
- The document reviews Toll Brothers' financial results, current housing market conditions, product diversification including single family, multi-family, age-qualified and city living homes, and its portfolio of current and future city living
Annie Williams Real Estate Report - April 2020Jon Weaver
Sales of single-family, re-sale homes fell in March compared to last year. I think we all expected this amidst the Covid-19 pandemic. Home sales were down 8.7%. There were 157 homes sold in San Francisco last month. The average since 2000 is 214.
This summary provides an overview of the key points from a regional sales meeting document:
1. The document outlines 10 must-do action items for real estate agents in 2010, including engaging in social media, harnessing face-to-face interactions, and creating a sense of urgency around an expiring federal tax credit for home buyers.
2. Housing market data is presented showing signs of stabilization with home prices declining more slowly and affordability remaining high.
3. Top performing agents in terms of sales, listings, and revenue units are recognized for the current month.
This is a description of the National Real Estate Market as well as the Richmond VA real estate market. The local real estate market has been improving for three straight years.
This document is a slide presentation by Lacy Williams of Joyner Fine Properties on the Greater Richmond real estate market and national housing market trends. It provides background on the data sources used and then analyzes national economic data, including job growth, employment rates, household formation, homeownership rates, and inventory levels. It also examines interest rates and projections for 2015. Overall, it finds that while the national housing market has improved since the recession, full recovery is still needed, and interest rate increases in 2015 could impact affordability.
Richmond Virginia Real Estate Market Report January 15Lacy Williams
This document provides a summary of the national and Greater Richmond real estate markets in January 2015. It includes graphs and analysis on topics like the national economy, jobs, home sales, prices, inventory, distressed sales, and mortgage rates. For the national market, it shows improvements in jobs gained since 2008 but notes more jobs are still needed. Home sales, prices and inventory are trending positively. The Greater Richmond section focuses on rising home sales and notes the local market is improving.
This document is a slide presentation by Lacy Williams of Joyner Fine Properties analyzing the real estate market in Richmond, Virginia and nationally. It provides data and graphs on economic indicators, housing inventory levels, home sales, prices and mortgage rates from 2008 to the present. It shows that while the national market has recovered since the recession, inventory remains low leading to further price increases in many areas including Richmond.
This document provides an overview of the national and Richmond, VA housing markets. For the national market, pending home sales, inventory levels, home prices, and forecasts are presented showing an improving market. The Richmond market summary shows that after declines from 2005-2010, the number of single family home sales has increased each year since 2011. Sales for 2012 are up from 2011 levels. Condominium sales have also risen since 2011. Overall, the data indicates the local housing market is recovering.
RealPulseAZ - February 2021 - Market ReviewNathan Holman
The document provides an overview of the US housing market in February 2021. It summarizes existing home sales data from 2020, forecasts for home sales and prices in 2021 from various analysts, and projections for mortgage rates. It also discusses factors that may impact housing inventory levels in 2021 such as homeowners waiting for vaccines before listing. The average forecasted home price increase for 2021 across analysts is 5%.
The document analyzes data on the U.S. housing market from multiple sources. It shows that homeownership remains an important part of Americans' net worth and financial well-being. Home equity has rebounded from the housing crash, and rising home values are allowing more homeowners to build equity and fueling trade-up demand. Inventory remains low while home prices and pending sales are rising, suggesting the housing recovery is continuing. However, some experts warn price growth cannot last at its current rapid pace and will likely moderate in the coming years. Mortgage rates are also expected to inch up from current historic lows in 2014.
The housing market continues to gradually improve without government support. While home prices and sales have declined compared to last year, inventory levels have returned to pre-tax credit levels. Low interest rates are encouraging buyers, but are expected to rise over 2012. Employment growth needs to continue for a full housing recovery, as jobs enable people to buy homes. Stimulus efforts will gradually wind down, but buyers still have favorable conditions in the market.
This document contains a variety of charts and data related to the housing market from multiple sources such as NAR, Case-Shiller, Freddie Mac, and Moody's. It is divided into three main sections. The first section contains charts on pending home sales, existing home sales projections vs actuals, and year-over-year sales changes by price point. The second section discusses mortgage rates, affordability, home price valuations, and opinions on whether the housing market could be in a bubble. The third section focuses on marketing strategies and resources for staying up-to-date on housing market trends. The document aims to provide a comprehensive overview of the current state of the housing market from both economic and real estate professional
This document provides information about buying a home on the San Francisco Peninsula in 2010. It discusses the benefits of first-time homebuyer tax credits and low mortgage rates available at the time. The document outlines the current state of the real estate market in San Mateo County, which is considered a buyer's market. Key steps in the home buying process are reviewed such as getting pre-approved, making an offer, and completing inspections.
The document discusses the causes of the housing market downturn in Chicago and nationally. It argues that the primary cause was a lack of housing affordability as home prices grew much faster than incomes from 2004-2007. Creative financing using subprime mortgages allowed home prices to surge far beyond affordable levels for median income earners. Now that subprime lending has collapsed, home prices remain too high and sales have dropped dramatically as traditional lending standards have returned. The recovery will require a shift to more affordable home prices aligned with median incomes.
Ventura County Real Estate Update - Summer 2013John Wise
Real estate values have sharply increased in Ventura County primarily due to low housing supply. Factors driving the increase include high investor demand from large firms and groups as well as all-time low interest rates and pent-up demand. However, the increases may not continue indefinitely as factors like reduced investor demand, higher interest rates, and job growth could influence values going forward.
This document provides information about buying a home on the San Francisco Peninsula, including details about financing options, home buying tax benefits, and the current real estate market. It discusses:
- Federal stimulus programs that provide tax credits for first-time homebuyers and current homeowners making purchases through 2010.
- Historically low mortgage rates and the benefits of owning versus renting, such as building equity over time.
- An overview of the process for purchasing a home, from getting pre-approved to closing.
- Factors that make the San Francisco Peninsula housing market desirable such as location, schools, and weather.
The document provides an overview of the real estate market in May 2009. It summarizes that home prices have fallen to 2003 levels and inventory has stabilized. Mortgage rates are below 5% and affordability is high, making it a favorable time for buyers. Government programs are also helping more homeowners modify their loans to avoid foreclosure.
The residential and now commercial mortgage problem is still the biggest
issue facing the U.S. Economy. A year ago, I presented this Powerpoint
Slide show, "The Mortgage Mess" (see the attachment). It is very
interesting to see what has happened in the past almost 12 months.
* The situation has become worse, not better, in spite of throwing
hundreds of billions of dollars at the problem. The TARP funds were not
used as intended, and are being redirected for other purposes.
* The problem hasn't gone away. There will be as many foreclosures in the
next couple of years as have already occurred. One out of every seven
houses in the country is underwater: the home values are less than the
mortgages on the homes.
* Although the GDP shows some slight improvement, that is mostly due to
artificial stimulus, which cannot last.
* We are still losing 200,000 jobs every month; better than the 700,000
per month we were losing in the Spring, but still increasing nonetheless.
* Mark Zandi of Moody Economics has said within the last two days that
unemployment can be expected to peak at 10.6%; when counting in those who
have stopped looking and those who are underemployed (the engineer flipping
burgers), it is closer to 18% - 20%. Such unemployment rates cannot sustain
any solid economic recovery.
* The credit card bust is well underway. Whereas there were 400 million credit cards issued a year, now there are only 300 million in circulation,
and interest rates have increased significantly.
The document summarizes recent developments in the US housing market. It discusses signs of recovery including lower mortgage rates and inventory. Government programs like the FDIC principal reduction program aim to help troubled homeowners. Jumbo mortgages are becoming more available again after tightening during the financial crisis. The tax deadline is approaching and the document provides tips for homeowner tax deductions and credits.
The document summarizes recent developments in the US housing market. It discusses signs of recovery including lower mortgage rates and inventory. The government is taking actions like testing principal reduction to help homeowners. Topics covered for buyers, sellers and owners include tax deductions and credits. The local market varies so talking to a real estate agent is advised.
19201 Collins Ave-Unit 333 for sale in Sunny Isles Beach, FL-Property ReportJorge J Gomez
This property report from Jorge J Gomez Realtor provides information on a condo unit located at 19201 Collins Ave, #333 in Sunny Isles Beach, FL. The 360 square foot condo has been recently remodeled and is fully furnished. It is listed for sale at $120,000 and has been on the market for 240 days. Contact information is provided for the listing agent, Jorge J Gomez.
This corporate profile document provides an overview of Toll Brothers, the largest luxury home builder in the United States. Some key points:
- Toll Brothers focuses on the luxury home market, with an average delivered home price of $725,000 in FY2014, more than double the average of other large public home builders.
- It has a nationwide footprint across 19 states and approximately 50 markets, and is expanding its urban presence in cities like New York, Washington D.C. and Philadelphia.
- The document reviews Toll Brothers' financial results, current housing market conditions, product diversification including single family, multi-family, age-qualified and city living homes, and its portfolio of current and future city living
Annie Williams Real Estate Report - April 2020Jon Weaver
Sales of single-family, re-sale homes fell in March compared to last year. I think we all expected this amidst the Covid-19 pandemic. Home sales were down 8.7%. There were 157 homes sold in San Francisco last month. The average since 2000 is 214.
This summary provides an overview of the key points from a regional sales meeting document:
1. The document outlines 10 must-do action items for real estate agents in 2010, including engaging in social media, harnessing face-to-face interactions, and creating a sense of urgency around an expiring federal tax credit for home buyers.
2. Housing market data is presented showing signs of stabilization with home prices declining more slowly and affordability remaining high.
3. Top performing agents in terms of sales, listings, and revenue units are recognized for the current month.
This is a description of the National Real Estate Market as well as the Richmond VA real estate market. The local real estate market has been improving for three straight years.
This document is a slide presentation by Lacy Williams of Joyner Fine Properties on the Greater Richmond real estate market and national housing market trends. It provides background on the data sources used and then analyzes national economic data, including job growth, employment rates, household formation, homeownership rates, and inventory levels. It also examines interest rates and projections for 2015. Overall, it finds that while the national housing market has improved since the recession, full recovery is still needed, and interest rate increases in 2015 could impact affordability.
Richmond Virginia Real Estate Market Report January 15Lacy Williams
This document provides a summary of the national and Greater Richmond real estate markets in January 2015. It includes graphs and analysis on topics like the national economy, jobs, home sales, prices, inventory, distressed sales, and mortgage rates. For the national market, it shows improvements in jobs gained since 2008 but notes more jobs are still needed. Home sales, prices and inventory are trending positively. The Greater Richmond section focuses on rising home sales and notes the local market is improving.
Richmond Virginia Real Estate Market Report January 2015Lacy Williams
This document provides a summary of the national and Greater Richmond real estate markets in January 2015. It includes graphs and data on national economic indicators, jobs, homeownership rates, inventory levels, prices, and sales trends. For the national market, it shows improvements in jobs gained since the recession but notes more recovery is still needed. Inventory levels are decreasing while prices and sales are rising across most price points. In the Greater Richmond market, it highlights that sales are up significantly compared to previous years as a positive indicator for the local market.
Richmond VA Real Estate Market January 2016Lacy Williams
This document is a slide presentation by Lacy Williams of Joyner Fine Properties analyzing the real estate market in Richmond, Virginia and nationally. It provides data and graphs on economic indicators, housing inventory levels, home sales, prices and mortgage rates from 2008 to the present. It shows that while the national market has recovered since the recession, inventory remains low leading to further price increases in many areas including Richmond.
This document contains slides from a presentation on the Greater Richmond real estate market given by Lacy Williams of Joyner Fine Properties in April 2017. The slides provide information on national economic data, the national housing market, and prices and inventory in the Greater Richmond area using data from January to April 2017. Key graphs show trends in employment rates, GDP growth, homeownership rates, housing inventory levels, and home price appreciation at the national and state levels.
This is a description of the national and Richmond VA real estate market produced by Lacy Williams of Joyner Fine Properties. Contact Lacy at 804-864-0316 for all of you real estate needs.
Weichert, Princeton January Market Recap & ForecastWeichert Realtors
Want your Phd in Princeton area real estate? Have a look at some of the most detailed data on the Mercer, Middlesex and Somerset County real estate markets. Whether you are buying or selling this will give you insight into both.
This document contains a summary of key housing market indicators from various sources for January through March 2018. It shows that existing and new home sales increased in the first quarter of 2018 compared to the same period in 2017. Total home sales were up year-over-year in January, February, and March. Housing affordability indexes remained strong, while home prices, rents, and mortgage rates increased modestly.
The document analyzes the real estate market in Greater Richmond from 2010 to 2012. It finds that the number of single family home sales increased by 18.7% between 2010 and 2012, with the greatest increase occurring at higher price points. Inventory levels are below normal in most areas. Home prices rose overall in this period, with the greatest increases in the city of Richmond and at higher price points.
The document discusses the state of the Wisconsin real estate market in the second half of 2009. Several experts and analysts cite data showing home prices have fallen significantly but many believe housing prices have reached or are near the bottom, making it a good time to buy. However, others warn that prices may continue declining, especially if unemployment rises. The future of the housing market remains uncertain.
The document summarizes key trends in the US housing market in early 2018. It notes that homeownership rates rose for the first time in 13 years in 2017, driven by a shift toward owning rather than renting. Home prices increased by over 5% year-over-year for the 4th consecutive year according to Case-Shiller data. However, inventory remains low nationwide, with months of supply at 3.5 months. Economists expect price growth to moderate in 2018 and disagree on the potential impact of tax reform on housing.
This report summarizes the 2018 San Francisco County housing market. Some key points:
- Home prices increased 8% overall with single-family prices up 12.9% and condo prices up 4.6%.
- Pending home sales were up 0.7% while closed sales increased 0.8%. However, active listings decreased 15.2%.
- The median sales price was $1,350,000, up from $1,250,000 in 2017. The average sales price was $1,599,006, up 6.1% from 2017.
- Sellers received 110.5% of their original list price, an improvement of 1% from 2017.
Consumer confidence and optimism among small businesses increased sharply following Donald Trump's election as president. Several surveys found that Americans were more optimistic about the economy and their personal financial situation under a Trump administration. Mortgage rates also rose in late 2016 and early 2017 but remained near historically low levels. Home sales increased in 2016 while inventory levels remained tight.
Annie Williams Real Estate Report - Dec 2015Jon Weaver
- Housing affordability in California is expected to experience long-term issues due to high home prices, not enough homes being built, and rising rents making it difficult for many to save for a down payment.
- In many California markets, including the San Francisco Bay Area and Southern California, the luxury home market remains active with Asian buyers continuing to fuel demand. However, overall home sales are down while prices continue rising.
- A lack of housing inventory is seen as a key factor sustaining high home prices in San Francisco, with the median home price rising 13% year-over-year and staying over $1 million for most of the past two years.
Pintar Investment Company invests in single family homes, providing consistent returns through rentals and home flipping. It has invested over $1 billion since 2008, averaging 11% annual returns. The company benefits from scale and vertical integration across strategic advisory, property management, lending, and other services. Growing demand for rentals is driven by increasing households, low housing construction, and preferences for renting. Tight rental markets support rising rents as renter growth outpaces ownership. The company offers investors exposure to the single family rental sector through its PICR Fund III.
The document summarizes recent developments in the US housing market. It discusses signs of recovery including lower mortgage rates and inventory. Government programs like the FDIC principal reduction program aim to help troubled homeowners. Jumbo mortgages are becoming more available again. The tax filing season brings deductions and credits for homeowners from 2009. Local market conditions vary so buyers and sellers should consult their real estate agent.
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The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
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BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
February 19 Greater Richmond Real Estate Statistics
1. Slides Produced by Lacy Williams, Joyner Fine Properties
The Greater Richmond Real
Estate Market
Lacy Williams
Joyner Fine Properties
February 2019
11
2. Slides Produced by Lacy Williams, Joyner Fine Properties
Background
• This report is designed to provide information on the Richmond VA
housing Market as well as the National Market.
• Graphs in this report on the National Market are obtained from
Keeping Current Matters and from the National Association of
Realtors (NAR). For additional information on Keeping Current
Matters, or to subscribe to this service, please go to
www.KeepingCurrentMatters.com. For additional information on
the National Association of Realtors, go to www.realtor.org.
• The graphs and analysis of the Richmond area are produced by Lacy
Williams of Joyner Fine Properties using the Central Virginia
Regional Multiple Listing Service (CVRMLS) data. Data was
extracted in January 2019 for most of the graphs. The Greater
Richmond area is defined as the city of Richmond and the counties
of Henrico, Chesterfield, Hanover, Goochland and Powhatan.
22
3. Slides Produced by Lacy Williams, Joyner Fine Properties
National
Economic Data
33
4. Slides Produced by Lacy Williams, Joyner Fine Properties
Gross Domestic Product
44Source: Statistica.com 1/15/19
1.00%
0.49%
1.50%
2.30%
1.90% 1.80% 1.70%
3.00%
2.80%
2.30% 2.20%
4.20%
3.50%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
15-Q3
15-Q4
16-Q1
16-Q2
16-Q3
16-Q4
17-Q1
17-Q2
17-Q3
17-Q4
18-Q1
18-Q2
18-Q3
GDPGrowth
Year and Quarter
GDP Growth By
Quarter
5. Slides Produced by Lacy Williams, Joyner Fine Properties
Labor Force Participation Rate
55
6. Slides Produced by Lacy Williams, Joyner Fine Properties
5 year Labor Force Participation Rate
66
7. Slides Produced by Lacy Williams, Joyner Fine Properties
Rental Growth Slowing
77Source: National Association of Realtors 11/18
8. Slides Produced by Lacy Williams, Joyner Fine Properties
Homeownership Rate
88Source: Tradingeconomics.com 1/19
9. Slides Produced by Lacy Williams, Joyner Fine Properties
Jobs, Jobs, Jobs
99Source: BLS 1/19
10. Slides Produced by Lacy Williams, Joyner Fine Properties
1010
Real Estate Wealth Rising
Source: National Association of Realtors 11/18
11. Slides Produced by Lacy Williams, Joyner Fine Properties
“People have more equity now than they did at
the height of the housing bubble, partly because
of climbing prices and partly because people are
staying in their homes longer, which gives them
more time to appreciate.
At the same time, we haven’t seen people
borrowing as much from their home equity as
they did in the past.”
Joe Mellman
Spokesman at TransUnion
Source: NAR 8/18
12. Slides Produced by Lacy Williams, Joyner Fine Properties
Number of Sales
1212
13. Slides Produced by Lacy Williams, Joyner Fine Properties
Existing Home Sales Since 2016
1313Source: National Association of Realtors 11/18
14. Slides Produced by Lacy Williams, Joyner Fine Properties
Existing Home Sales Since 2009
1414Source: National Association of Realtors 11/18
15. Slides Produced by Lacy Williams, Joyner Fine Properties
New Home Sales Since 2016
1515Source: National Association of Realtors 11/18
16. Slides Produced by Lacy Williams, Joyner Fine Properties
New Home Sales Since 2009
1616Source: National Association of Realtors 11/18
17. Slides Produced by Lacy Williams, Joyner Fine Properties
2017 Vs 2018
1717Source: National Association of Realtors 11/18
18. Slides Produced by Lacy Williams, Joyner Fine Properties
Forecast for Home Sales
1818Source: National Association of Realtors 11/18
20. Slides Produced by Lacy Williams, Joyner Fine Properties
Inventory
2020Source: National Association of Realtors 11/18
21. Slides Produced by Lacy Williams, Joyner Fine Properties
3.2
3.4 3.4
3.6
4.0
4.1
4.3 4.3 4.3
4.4
4.3
3.9
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
NAR 1/2019
Months Inventory of Homes For Sale
Last 12 Months
Source: Keeping Current Matters 1/19
22. Slides Produced by Lacy Williams, Joyner Fine Properties
1985 1987 1989 1991 1993 1995 1997 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
NAR
Actual Years
Tenure In Home
5
6 6
7 7
8
9
10 10
9
1985-2008 Average Tenure was 6 Years
2008-2017 Average
Tenure was 9 Years
Pent-Up
Seller
Demand
Source: Keeping Current Matters 2/19
23. Slides Produced by Lacy Williams, Joyner Fine Properties
Lawrence Yun
Chief Economist NAR
“It’s important to note that despite the
modest year-over-year rise in inventory, the
current level is far from what’s needed to
satisfy demand levels.
Furthermore, it remains to be seen if this
modest increase will stick, given the fact that
the robust economy is bringing more
interested buyers into the market, and new
home construction is failing to keep up.”
Source: Keeping Current Matters 8/18
24. Slides Produced by Lacy Williams, Joyner Fine Properties
Peter Muoio
Chief Economist, Auction.Com
“Inventory should remain the
most important housing market
trend in 2018. With homeownership
tenure on the rise and homebuilders
facing challenges with construction costs,
even an uptick in inventory will not provide
much relief to the current shortage.”
Source: Keeping Current Matters 3/18
25. Slides Produced by Lacy Williams, Joyner Fine Properties
How to Boost Home Construction?
2525Source: National Association of Realtors 11/18
26. Slides Produced by Lacy Williams, Joyner Fine Properties
Raise Local Awareness of Housing Shortage
2626Source: National Association of Realtors 11/18
27. Slides Produced by Lacy Williams, Joyner Fine Properties
Forecast for Single Family Home Starts
2727Source: National Association of Realtors 11/18
29. Slides Produced by Lacy Williams, Joyner Fine Properties
2929Source: National Association of Realtors 11/18
Prices
30. Slides Produced by Lacy Williams, Joyner Fine Properties
CoreLogic
Year-Over-Year Change in Price
Source: Keeping Current Matters 1/19
31. Slides Produced by Lacy Williams, Joyner Fine Properties
Where Are People Moving To?
3131
Highest Inbound States:
1. Vermont
2. Oregon
3. Idaho
4. Nevada
5. Arizona
6. South Carolina
7. Washington
8. North Carolina
9. South Dakota
10. District of Columbia
Highest Outbound States
1. New Jersey
2. Illinois
3. Connecticut
4. New York
5. Kansas
6. Ohio
7. Massachusetts
8. Iowa
9. Montana
10. Michigan
Source: United Van Lines 1/19
32. Slides Produced by Lacy Williams, Joyner Fine Properties
Source 2018 2019 2020 2021 2022
HPES +5.8 +3.8 +2.5 +2.5 +3.3
Zelman & Assoc. +4.7 +3.5 +3.2 N/A N/A
MBA +6.3 +4.5 +3 +1.9 N/A
Freddie Mac +5.1 +4.3 +2.9 N/A N/A
NAR +4.7 +3.8 +3 N/A N/A
Fannie Mae +5.4 +2.5 +2.8 N/A N/A
Projected Home Price % Appreciation
Source: Keeping Current Matters 1/19
33. Slides Produced by Lacy Williams, Joyner Fine Properties
CoreLogic
Forecasted Year-Over-Year % Change in
Price
Source: Keeping Current Matters 1/19
34. Slides Produced by Lacy Williams, Joyner Fine Properties
9.4%
8.4%
7.2%
5.9%
Low Price Low-to-Middle Middle-to-Moderate High Price CoreLogic
Year-Over-Year Change in Price
by Price Range
Source: Keeping Current Matters 1/19
35. Slides Produced by Lacy Williams, Joyner Fine Properties
52%
41%
36%
28%
Low Price Low-to-Middle Middle-to-Moderate High Price
5-Year Change in Price
by Price Range
CoreLogic Home Price Index
May 2013 – May 2018
Source: Keeping Current Matters 8/18
36. Slides Produced by Lacy Williams, Joyner Fine Properties
Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018
Source: Keeping Current Matters 8/18
Percentage of Distressed Property Sales35%
January 2012 - Today 3%
4%
NAR 8/2018
35%
Source: Keeping Current Matters 1/19
37. Slides Produced by Lacy Williams, Joyner Fine Properties
The Interest Rate
3737
38. Slides Produced by Lacy Williams, Joyner Fine Properties
Federal Reserve
3838Source: National Association of Realtors 11/18
11 increases since January 17
39. Slides Produced by Lacy Williams, Joyner Fine Properties
A Look Back at Mortgage Rates
Record Date
Average 30 year fixed
rate mortgage
Approximate Payment on
a $200K Mortgage*
All-Time
LOW
11/21/12 3.31% $877
All Time
HIGH
10/9/81 18.63% $3,177
*Monthly mortgage payments are principal and interest only,
based on a $200,000 fully amortizing mortgage.
Freddie Mac
Source: Keeping Current Matters 5/15
40. Slides Produced by Lacy Williams, Joyner Fine Properties
Mortgage Rate Projections
1/2019
Quarter
Freddie
Mac
Fannie
Mae
MBA NAR
Average
of All Four
2019 1Q 4.9 4.8 4.8 4.7 4.80
2019 2Q 5.0 4.8 4.9 4.8 4.88
2019 3Q 5.2 4.8 5.0 4.9 4.98
2019 4Q 5.3 4.8 5.0 5.0 5.03
Source: Keeping Current Matters 1/19
41. Slides Produced by Lacy Williams, Joyner Fine Properties
Cost of Living By State
4141
Source: Keeping Current Matters 8/18
42. Slides Produced by Lacy Williams, Joyner Fine Properties
BUYER SLIDES
4242
43. Slides Produced by Lacy Williams, Joyner Fine Properties
Average Wealth Gain
4343Source: National Association of Realtors 11/18
44. Slides Produced by Lacy Williams, Joyner Fine Properties
Wealth Homeowners Vs Renters
4444Source: National Association of Realtors 11/18
2000 20182016
45. Slides Produced by Lacy Williams, Joyner Fine Properties
Offer Vs Asking Price
4545Source: National Association of Realtors 11/18
46. Slides Produced by Lacy Williams, Joyner Fine Properties
Multi-Generational Housing
4646Source: National Association of Realtors 11/18
47. Slides Produced by Lacy Williams, Joyner Fine Properties
Greater Richmond
Housing Market
4747
Note: All Greater Richmond graphs include the city of
Richmond and the counties of Henrico, Hanover, Chesterfield,
Goochland and Powhatan. Data for most graphs is taken from
the Central Virginia Regional Multiple List Service (CVRMLS)
48. Slides Produced by Lacy Williams, Joyner Fine Properties
Market Indicator #1:
Sales
4848
49. Slides Produced by Lacy Williams, Joyner Fine Properties
12737
15262
15533
16450
15074
12644
9482
9069
8574
9051
10177
10545
11400
12841
13338
14821
14386
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
NoofSingleFamilySales
Year
Single Family Sales By Year
Single Family Sales By Year
Source: CVRMLS data 1/15/19
2018 sales were down 3% from 2017 and up 68% from 2010!
50. Slides Produced by Lacy Williams, Joyner Fine Properties
0
200
400
600
800
1000
1200
1400
1600
1800
2000
1 2 3 4 5 6 7 8 9 10 11 12
NoOfSales
Month
Sales By Month and Year
2016 2017 2018 2019
Number of Single Family House Sales by Month
5050
Source: CVRMLS data 2/5/19
51. Slides Produced by Lacy Williams, Joyner Fine Properties
Year Over Year Change in Number of Sales
5151
Greater Richmond Year Over Year Single Family Sales By Price
Range
Source: CVRMLS 1/17/19
Price Range 2017 2018 Change
$0-$249 7165 6348 -11.40%
$250-$499 5916 6503 9.92%
$500-$749 1088 1121 3.03%
$750-$999 202 228 12.87%
$1000+ 102 104 1.96%
52. Slides Produced by Lacy Williams, Joyner Fine Properties
Year Over Year Change in Number of Sales
5252
Greater Richmond Year Over Year Single Family Sales By Price
Range
Source: CVRMLS 1/17/19
Price Range 2017 2018 Change % of Total
$0-$249 7165 6348 -11.40% 49.51%
$250-$499 5916 6503 9.92% 40.88%
$500-$749 1088 1121 3.03% 7.52%
$750-$999 202 228 12.87% 1.40%
$1000+ 102 104 1.96% 0.70%
53. Slides Produced by Lacy Williams, Joyner Fine Properties
Total $ Volume of Greater Richmond
Single Family Sales
5353
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
$4,500
$5,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
$VolumeSold(inMillions)
Year
Total $ Volume of Houses Sold By Year (in millions)
Source: CVRMLS 2/22/19
54. Slides Produced by Lacy Williams, Joyner Fine Properties
914
1147
1383
1761
2035
1757
1382
11541093
1201
1420
16231587
1844
2019
23412394
0
500
1000
1500
2000
2500
3000
NumberofSales
Year
Greater Richmond Condominium Sales By Year
Condominium Sales in Greater Richmond
5454
Source: CVRMLS data 1/15/19
2018 Condo sales were 5% higher than 2017 and 17.6% Higher than 2006
And 119% higher than in 2010!
55. Slides Produced by Lacy Williams, Joyner Fine Properties
Year Over Year Change in Number of Sales
5555
Greater Richmond Year Over Year Condominium.
Townhouse Sales By Price Range
Price Range 2017 2018 Change
0-$249 1394 1355 -2.8%
$250-$499 833 884 6.1%
$500+ 103 148 43.7%
Source: CVRMLS 1/17/19
56. Slides Produced by Lacy Williams, Joyner Fine Properties
Year Over Year Change in Number of Sales
5656
Greater Richmond Year Over Year Condominium.
Townhouse Sales By Price Range
Price Range 2017 2018 Change
% Of
Total
0-$249 1394 1355 -2.8% 59.8%
$250-$499 833 884 6.1% 35.8%
$500+ 103 148 43.7% 4.4%
Source: CVRMLS 1/17/19
57. Slides Produced by Lacy Williams, Joyner Fine Properties
New Home Sales
5757
Source: HBAR 2/18/19
58. Slides Produced by Lacy Williams, Joyner Fine Properties
New Home Sales
5858
Source: HBAR 2/18/19
59. Slides Produced by Lacy Williams, Joyner Fine Properties
Top Builders in Richmond
5959
Rank Developer No of Closings Volume
Average
Price
1 Ryan Homes 953 $324,170,255 $340,158
2 HHHunt Homes 391 $159,745,324 $408,556
3 Main Street Homes 230 $99,722,562 $433,576
4 Style Craft Homes 230 $61,617,116 $267,901
5 Eagle Construction 181 $95,182,272 $525,869
6 Stanley Martin Homes 105 $45,680,292 $435,050
7 RCI Builders 101 $41,819,586 $414,055
8 Eastwood Homes 92 $34,813,229 $378,405
9 Craftmaster Homes 81 $33,204,593 $409,933
10 Gumenick Properties 65
Source: HBAR 2/18/19
60. Slides Produced by Lacy Williams, Joyner Fine Properties
Market Indicator #2:
Inventory is Low!!!
6060
61. Slides Produced by Lacy Williams, Joyner Fine Properties
Inventory of Single Family Houses
by Price Range in Greater Richmond
6161
The supply (inventory) of houses is determined by the number of active listings divided by the monthly sales rate for the
past year. After 2+ years of inventory between 8 and 10 months, inventory began to drop in the later months of 2011 and
has continued to drop for seven years.
Source: CVRMLS
data 1/17/19
Inventory By Price Range
0-$249 1.0
$250-$499 2.1
$500-$749 3.7
$750-$999 5.4
$1000+ 6.1
Greater Richmond 1.9
62. Slides Produced by Lacy Williams, Joyner Fine Properties
Single Family Inventory by Area
6262
Source: CVRMLS data 1/17/19
1.5 1.6
2.0
2.3
2.6
3.7
1.9
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
MonthsOfInventory
Area
Inventory
63. Slides Produced by Lacy Williams, Joyner Fine Properties
6363
Townhouse/Condominium Inventory
The inventory of townhouses and condominiums started dropping in the second half of 2011 and continued to drop for 7
years.
Source: CVRMLS data 1/17/19
Inventory By Price Range
(Months)
Price Range Inventory
0-$249 1.1
$250-$499 3.0
$500+ 3.9
Greater
Richmond 1.8
64. Slides Produced by Lacy Williams, Joyner Fine Properties
Active Listings By Month
6464
2673 2685.0
2943.0 2902.0 2857.0 2803 2707
2258 2137
0
500
1000
1500
2000
2500
3000
3500
18-06 18-07 18-08 18-09 18-10 18-11 18-12 19-01 19-02
NoofActiveListings
Month
Greater Richmond Single Family Active Listings
Source: CVRMLS data
65. Slides Produced by Lacy Williams, Joyner Fine Properties
Market Indicator #3:
Prices are rising!!!
6565
66. Slides Produced by Lacy Williams, Joyner Fine Properties
6666
The average sales price fluctuates monthly and has a yearly cycle. The average price can be influenced by a few very
large sales. But there is clearly an upward trend since 2012.
Single Family Average Sales Price
Source: CVRMLS data 1/15/19
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
$330,000
Jan-06
Jun-06
Nov-06
Apr-07
Sep-07
Feb-08
Jul-08
Dec-08
May-09
Oct-09
Mar-10
Aug-10
Jan-11
Jun-11
Nov-11
Apr-12
Sep-12
Feb-13
Jul-13
Dec-13
May-14
Oct-14
Mar-15
Aug-15
Jan-16
Jun-16
Nov-16
Apr-17
Sep-17
Feb-18
Jul-18
Dec-18
AverageSalesPrice
Month
Average Monthly Sales Price
67. Slides Produced by Lacy Williams, Joyner Fine Properties
Single Family Price Per Square Foot
6767
Price per square foot is a better indication of what is really happening. Note that the trend is definitely upward since 2012.
There are always seasonal variations with lower prices during the winter months.
Source: CVRMLS data 1/15/19
$80.00
$90.00
$100.00
$110.00
$120.00
$130.00
$140.00
$150.00
Jan-06
Jun-06
Nov-06
Apr-07
Sep-07
Feb-08
Jul-08
Dec-08
May-09
Oct-09
Mar-10
Aug-10
Jan-11
Jun-11
Nov-11
Apr-12
Sep-12
Feb-13
Jul-13
Dec-13
May-14
Oct-14
Mar-15
Aug-15
Jan-16
Jun-16
Nov-16
Apr-17
Sep-17
Feb-18
Jul-18
Dec-18
PricePerSqFt
Month
Greater Richmond Single Family Price Per Square
Foot
68. Slides Produced by Lacy Williams, Joyner Fine Properties
$92.37
$99.65
$107.61
$123.38
$135.82
$139.64
$132.43
$117.82
$112.23
$104.98
$106.16
$113.02
$115.19
$120.55
$126.08
$132.71
$138.38
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
$140.00
$160.00
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
PricePerSquareFoot
Year
Greater Richmond Single Family Price/Sq/Ft by Year
Single Family Average Yearly Prices
Source: CVRMLS data 1/15/19
69. Slides Produced by Lacy Williams, Joyner Fine Properties
$92.37
$99.65
$107.61
$123.38
$135.82
$139.64
$132.43
$117.82
$112.23
$104.98
$106.16
$113.02
$115.19
$120.55
$126.08
$132.71
$138.38
$80.00
$90.00
$100.00
$110.00
$120.00
$130.00
$140.00
$150.00
PricePerSquareFoot
Year
Greater Richmond Single Family Price/Sq/Ft by
Year
Single Family Average Yearly Prices
Source: CVRMLS data 1/15/19
70. Slides Produced by Lacy Williams, Joyner Fine Properties
7.88%
7.99%
14.65%
10.08%
2.81%
-5.16%
-11.03%
-4.74%
-6.46%
1.12%
6.46%
1.92%
4.65%
4.59%
5.26%
4.27%
-15.00%
-10.00%
-5.00%
0.00%
5.00%
10.00%
15.00%
20.00%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
%ChangeFromPreviousYear
Price Change From Previous Year
Single Family Year over Year Price Change
7070
Year over year price change shows that after 4 years of declines, prices started to increase in 2012 and have continued to
increase in 2013 and 2014.. In this graph, the 7.9% increase in 2003 is the increase in prices between 2002 and 2003 etc.
Source: CVRMLS data 1/15/18
71. Slides Produced by Lacy Williams, Joyner Fine Properties
Change in Price by Price Range
Price Range 2017 2018 Change
0-$249 $112.39 $119.18 6.05%
$250-$499 $133.06 $137.36 3.23%
$500-$749 $161.01 $158.71 -1.43%
$750-$999 $184.03 $190.82 3.69%
$1000+ $247.82 $224.67 -9.34%
7171
Source: CVRMLS data 1/15/18
73. Slides Produced by Lacy Williams, Joyner Fine Properties
Condominium Townhouse Prices By Year
7373
$91
$100
$113
$133
$149
$154$153
$136
$132
$119$121
$130
$139$137$140
$149
$157
$80
$90
$100
$110
$120
$130
$140
$150
$160
$170
20022003200420052006200720082009201020112012201320142015201620172018
PricePerSquareFoot
Year
Greater Richmond Condominium Townhouse
Prices
Source: CVRMLS data
74. Slides Produced by Lacy Williams, Joyner Fine Properties
Richmond Real Estate Areas
7474
The Richmond Association of
Realtors (RAR) uses Real estate areas
as shown in the graph. The following
analysis covers areas 10, 20, 22, 24,
30, 32, 34, 36, 40, 42, 44, 50, 52, 54,
60, 62, 64 and 66 shown on the map.
75. Slides Produced by Lacy Williams, Joyner Fine Properties
Active Listings 1/17/19
7575Source: CVRMLS data 1/17/19
117
21
106 110
94
47
154
164
107
65
122
54
226
324
44
316
92
109
0
50
100
150
200
250
300
350
10 20 22 24 30 32 34 36 40 42 44 50 52 54 60 62 64 66
NoofActiveListings1/17/19
Area
Active Listings By Area
76. Slides Produced by Lacy Williams, Joyner Fine Properties
Single Family Greater Richmond
Sales Price by Area
7676
Average sales price varies considerably by area with area 20 having the highest and area 50 having the
lowest.
Source: CVRMLS data 1/18/19
$314,048
$576,497
$374,040
$489,943
$234,987
$204,252
$382,730
$349,914
$206,487
$162,990
$299,468
$110,921
$236,455
$271,935
$254,795
$324,297
$388,423
$328,085
$303,471
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
AverageSalesPrice
Area
Greater Richmond Single Family 2018 Average Sales
Price By Area
77. Slides Produced by Lacy Williams, Joyner Fine Properties
Greater Richmond 2018 Single Family Price per
Square Foot
7777
Source: CVRMLS data 1/18/19
$179.25
$233.49
$158.96
$167.22
$131.13
$127.82
$148.29
$141.55
$116.86
$108.08
$135.44
$85.92
$114.56
$122.16
$139.23
$131.51
$136.48
$143.27
$138.38
$0.00
$50.00
$100.00
$150.00
$200.00
$250.00
PricePerSqFt
Area
Greater Richmond Single Family 2018 Prices
78. Slides Produced by Lacy Williams, Joyner Fine Properties
Inventory By Area
7878
Source: CVRMLS data 1/18/19
1.8
0.8
1.1
3.7
2.2
1.1
1.8
2.7
2.2
1.8 1.9 1.9 1.9
2.1
0.7
2.1
1.9
2.6
1.9
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
MonthsofInventory
Area
Single Family Inventory By Area 1/18/19
79. Slides Produced by Lacy Williams, Joyner Fine Properties
2018 Sales Price/List Price Ratio
7979
Source: CVRMLS data 2/15/19
99.8%
100.1%
99.7%
99.0%
98.8%
100.1%
99.7%
98.8%
99.5%
99.3%
99.9%
98.9%
99.9%
99.9%
100.6%
99.9%
99.4%
99.8%
99.5%
97.5%
98.0%
98.5%
99.0%
99.5%
100.0%
100.5%
101.0%
List/SalesPriceRatio
Area
Single Family List/Sales Price Ratio
80. Slides Produced by Lacy Williams, Joyner Fine Properties
The Odds of Selling in Greater Richmond
8080Source: CVRMLS 1/21/19
76.6%
88.6%
81.3%
62.9%
70.3%
89.8%
73.3%
71.5%
76.4%
84.3%
74.2%
77.8%
75.2%
73.1%
84.0%
71.1%
72.3%
70.0%
75.1%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
TheOddsofSellingin2018
Area
The Odds of Selling Your House in 2018
82. Slides Produced by Lacy Williams, Joyner Fine Properties
NAR Economic Summary
• Good Economy
• Job additions for 90 straight months
• 304,000 jobs added in January (during
Government shutdown)
• Unemployment rate 3.9%
• High stock market
• High Net Worth
• Wages increasing
8282
Source: NAR 11/18
83. Slides Produced by Lacy Williams, Joyner Fine Properties
Sam Khater
VP & Chief Economist of Freddie Mac
“The slowdown in home sales and home
prices in 2018 was concentrated on the high
end of the market and along the more
expensive coastal and formerly hot markets.
While interior housing markets exhibited a
slowdown, it was milder than the slowdown
in coastal markets.”
84. Slides Produced by Lacy Williams, Joyner Fine Properties
Greater Richmond Summary
• Sales are Stable
• Inventory is low Single Family 1.9 mo.
• Prices are rising Single Family up 4.2%-
22% over past 5 years
• The interest rate is rising
• All of these trends are expected to
continue.
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85. Slides Produced by Lacy Williams, Joyner Fine Properties
Inventory Imbalance
• Extreme shortage of houses at lower price points.
• More Buyers at lower price points.
• People are staying in their houses longer- not moving from
smaller house to larger house.
• City living and walkable neighborhoods more desirable. Little
ability to build in these areas.
• Rising construction costs and rising lot costs make new home
construction very difficult at lower price points.
• Low margins for builders at lower price points.
• Increasing regulations and building codes.
• NIMBY mentality (Not in my back yard)
• Localities really need to look at density to fix this. Smaller
houses, smaller lots.
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86. Slides Produced by Lacy Williams, Joyner Fine Properties
Housing Recession? I Don’t Think So!!
• Booming economy
• Labor force participation rate increasing
• Homeownership rate increasing
• Healthy rate of growth since 2012
• Normal lending practices
• Traditional investors
• Stock market can dip without affecting the
housing market.
8686
87. Slides Produced by Lacy Williams, Joyner Fine Properties
Questions?
LacyW@joynerfp.com
Lacy Williams
Joyner Fine Properties
804-864-0316
8787