Rather than copy and paste the entire article here, you can read CAAR’s Year End Market Report here (PDF).
In short, 2006 was another record-breaking year tempered by a (in some segments dramatic) return to normalcy. The “froth” or “irrational exuberance” has been blown away. Back to work.
My prediction for 2007? 4-7& average increase in values – different segments of the market will vary … more on this later.
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About Jim Duncan
A Charlottesville Realtor who tries to stay on the bleeding/cutting/functional edge of technology and real estate trends. I have been selling real estate for the past 10 years, lived in C'Ville for twenty+ and am married to one of few Charlottesville natives left.
