Richmond Named Fourth-Hottest Housing Market in 2016

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Buying a home is a major decision, and whether you plan to move soon or want to purchase a home to rent or re-sell, it is important to make sure you are making a sound financial investment.

If you’ve been thinking of investing in a new custom home in Richmond, the news is good. According to Zillow, an online marketplace dedicated to empowering consumers with real estate data and information, Richmond is predicted to be in the top 10 hottest housing markets in 2016.

By comparing home value appreciation, recent income growth and current unemployment rates, analysts were able to determine the hottest housing markets that would contribute to the nation’s overall home value growth of approximately 3.5 percent in 2016.

Richmond, which ranked No. 4 on the list, is seeing the most steady income growth of the top 10 markets thanks to its strong and diverse economy. The unemployment rate is also low at 4.4 percent, with the government, finance, education and manufacturing sectors expected to remain strong this year.

“The markets that shine the brightest will be those that manage to strike a good balance between strong income growth, low unemployment and solid home value appreciation,” said Zillow’s chief economist, Svenja Gudell. “This year’s hottest markets have something for everyone, whether they’re looking for somewhere to raise a family or start a career.”

Boone Homes is proud to build custom homes in Richmond, one of the strongest housing markets in the country, and we look forward to helping you achieve your dreams of home ownership in 2016 and beyond. With almost 30 years of experience in the home building industry, Boone Homes builds only the highest quality homes in the best locations throughout the Richmond area including Wyndham, Twin Hickory, Founders Bridge, Kinloch and more. If you’ve been looking for a new Richmond home, a quick move-in home or a fully custom home, stop by one of our beautifully decorated model homes or visit us at www.BooneHomes.net for more information.