While mortgage rates and new mortgage rules have real estate markets across the country concerned that the housing market will start to slow, economist David Crowe has confidence that the Richmond real estate market will continue to grow.
Crowe, the chief economist and senior vice president of the National Association of Home Builders, states that “housing growth depends on population growth” and in Richmond, the population is growing at nearly 5 percent per decade (according to the Greater Richmond Partnership). While some of this population growth can be attributed to growing families, it is also a result of new residents moving to Richmond. For example, 785 individuals moved from Charlottesville to Richmond in 2010, while only 610 moved from Richmond to Charlottesville.
On Wednesday, Feb. 12, Crowe shared his forecast for the Richmond real estate market with local members of the Home Building Association of Richmond. Boone Homes’ very own Tim Parent, executive vice president, emceed the event. For more information on Crowe’s presentation, click here.
To accommodate for the population growth, home builders, including Boone Homes, have increased new home construction throughout Henrico, Goochland and Chesterfield counties. Our new home communities offer a variety of maintenance free and estate homes. Communities include:
- Villas at Grey Oaks in Henrico County – Maintenance free homes from the $480,000s
- Westcott at Grey Oaks in Henrico County – Estate homes from the $669,950s
- Ellington at Wyndham in Henrico County – Luxury estate homes from the $535,950s
- Ellington Woods in Henrico County – Luxury estate homes from the $725,000s
- Bellingham in Twin Hickory in Henrico County – Maintenance free homes from the $350,000s
- Coach Homes of Kinloch in Goochland County – Maintenance free homes from the $499,950s
- Tarrington on the James Estate Homes in Chesterfield County – Estate homes from the $599,950s
- Tarrington on the James Courtyard Homes in Chesterfield County – Maintenance free homes from the $519,950s
- Founders Bridge Club Villas in Chesterfield County – Maintenance free homes from the $525,950s
For more information on all of our extraordinary new home communities in Richmond, visit the Boone Homes website.