|
RICHMOND'S ONLOCATION - JANUARY 2012 ISSUE
With the Holidays behind us we welcome a fresh start for the New Year. I like having a new calendar to fill and the promise of making the coming year better than last year is exciting and may be my best New Year’s resolution,... Read more...
RICHMOND'S ONLOCATION - NOVEMBER 2011 ISSUE
Several articles written in the past two weeks state that people in the United States tend to be less mobile today than when things were booming in 2006. Fewer job transfers, ... Read more...
RICHMOND'S ONLOCATION - OCTOBER 2011 ISSUE
In the Richmond Metro Area prices for single family homes on average are down 5% through September 2011, but I am continuing to look hard for good news and have found the number of sales are up... Read more....
RICHMOND'S ONLOCATION - SEPTEMBER 2011 ISSUE
There was some good news in July and August 2011 as pending and closed sales for single family and townhomes/condominiums were ahead of last year. Prices were down somewhat but given the state of the economy and the bickering in Washington... Read more...
RICHMOND'S ONLOCATION - AUGUST 2011 ISSUE
Click here to visit our Richmond OnLocation August 2011 Issue to learn Summer Gardening Tips, updates on the Real Estate Marketing from August and more!
SUMMARY OF THE CENTRAL VIRGINIA AREA HOUSING MARKET ANALYSIS
2nd Quarter 2011
National and Local Economic Overview
The national economy hit a soft patch in late spring and early summer, primarily due to high gasoline prices and disruptions in the manufacturing sector related to the disaster in Japan that sapped momentum from several elements of the economy. However, those events are likely temporary and at mid-summer they already appear to be fading. Economic forecasters predict better growth in the second half of the year, as oil prices continue to fall and other temporary blips are put behind us. Job growth has been sluggish in the Central Virginia region and other economic measures have not yet begun accelerating, but it is likely that the area will begin to move out of the soft patch as the economy gains more traction in late summer and fall. Read more...
-Wayne Johnson
|