How COVID-19 is affecting the current Real Estate Market in Richmond and Charlottesville, VA
It's hard to pin down exactly how the economy’s response to the COVID-19 outbreak will affect housing overall yet, but I did find a great article from the Virginia Association of Realtors' Chief Economist , Dr. Lisa Sturtevant. Her full March 2020 market report is attached as well and is worth reading. She's brilliant. I've been listening to her market updates via video which she sends Realtors weekly as she's getting survey results back across the state from those of us out in the field. This second quarter will be truly telling, I think; it will speak volumes about what's likely to happen in the housing market in the near future, and I'll be watching what Dr. Sturtevant has to say about it. Houses are still moving quickly in both the Charlottesville and Richmond markets, and with tighter inventory I expect that to continue through the summer. As more sellers are venturing back out into the market again after the initial panic r