Expert forecasts indicate that Richmond’s housing market is on a stable path, with gradual price increases and no major national downturn expected.

There’s been a new round of housing market forecasts released this summer for the Richmond Area, and the results are giving buyers and sellers a clearer picture of what lies ahead. Over 100 top real estate economists shared their long-term projections, and while opinions vary slightly, the direction is consistent. 

Whether you're planning a move or just keeping an eye on the market, here’s what the experts are saying right now:

Annual price growth. Annual home price growth is expected to average 3.3 percent through 2029. That’s the middle of the pack across all forecasts. Some predict a slightly higher rate, closer to 5 percent per year. Others are more conservative, achieving an annual growth rate of around 1.3 percent. But none of them expect a significant drop or crash in home values.

Market outlook. The outlook points to stable and gradual growth. Nationally, there are no signs of a housing bubble or sharp correction. Instead, prices are expected to rise at a steady pace, shaped by local supply, demand, and affordability.

“Expert predictions show stable, long-term price growth in Richmond real estate.”

Real estate remains a local game. What happens nationally does not always reflect the Richmond area. Local trends can move faster or slower depending on inventory levels, buyer activity, and economic conditions. That’s why it is so important to look at your neighborhood numbers, not just the headlines.

If you are thinking about buying, selling, or investing, now is a good time to plan. You can call or text me at 804-527-3948 or email me at marc@marcshomes.net. I can help you navigate the market and provide the strategy you need to ensure an incredible real estate journey.

Remember, it's not the market; it's the marketing that makes the difference.