Limited inventory and a growing corps of prospective buyers wanting in on home-ownership should push home-sales prices higher across Virginia in coming months, according to a new survey.
That bullish sentiment compares to a more negative outlook just a month ago.
The monthly survey conducted by the Virginia Realtors trade organization for April 26-May 1, reported on May 4, saw 50 percent of the more than 1,000 respondents believing that home prices in their community will be higher in three months’ time than they are today.
That’s up from 38 percent a month before.
Sixteen percent of respondents said they believe prices will decline, down from 29 percent a month before and off from nearly 45 percent at the start of the year.
Thirty percent of respondents say they believe prices will remain largely unchanged, a view that itself was unchanged from a month prior.
Among those participating in the online survey were more than 800 Virginia Realtors who had taken part in at least one transaction over the preceding 30 days.
