Builder magazine named four Virginia regions as being in the country’s top 20 housing markets: Charlottesville (#6), Virginia Beach (#12), the Washington DC area (#14), and Richmond (#15).
Some tidbits on each:
C’ville: “Charlottesville isn’t a very big housing market, but it’s a pretty strong one. Home to the University of Virginia, the region has benefited from some strong household growth in recent years. It continues to attract second-home buyers from Washington, D.C.”
Va. Beach: “Virginia Beach is slated to have some of the strongest home price appreciation (4.3%) and income growth (4.7%) during the next year and a half.”
D.C.: “Washington, D.C. has been one of the best housing markets for the last two years, though most local builders will tell you the market took a small step backward this year.”
Richmond: “An unemployment rate of only 7.1% provides a partial explanation. Richmond is home to two military bases, Fort Lee and Dahlgren AFB. Three of its seven major employers are health care providers. Employment is expected to rise 1.8% next year.”