Jan 5, 2026 - Real Estate

Richmond ranked a top housing market for 2026

For 2026, Richmonders should expect real estate to bring lower mortgage rates but a still-tough housing market.

Why it matters: RVA was once again named one of the hottest housing markets of the year by Realtor.com.

And that's once again because prices here are expected to increase and competition to remain fierce.

State of play: Here's what industry economists predict is in store for rates, sales and more this year.

Rates will stay above 6%: U.S. mortgage rates are expected to hover near 6.3% in 2026, according to Realtor.com chief economist Danielle Hale.

Redfin also projects 30-year fixed rates will average 6.3%, dipping from 6.6% in 2025 while staying well above pandemic-era levels.

On sales: Realtor.com predicts sales of existing homes in Richmond will climb by 3.6% this year, way more than its national prediction of 1.7%.

On price: Median home sale prices for metro Richmond will rise by 6.9%, per Realtor.com.

As of November, the most recent month available, the median home sale price for a single-family home in RVA was $434,900, per the Richmond Association of Realtors.
That's up 2.6% from the previous year.

Yes, but: Wages are expected to grow faster than home prices, which will rise another 1% in 2026, per Redfin's forecast.

The bottom line: It's still rough out there for buyers, but this year could bring some relief.

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