I am thankful that we have not seen much of a shift in home values in Harrisonburg and Rockingham County!  However, the extremely slow rate of market activity that we are currently experiencing makes it very difficult for a homeowner to sell their home, and thus I hope that we will soon see market activity pick up in this area.

Of note, we have seen a steady decline in overall residential sales for each of the past four years (shown above), with a 44% overall decline between 2005 and 2008.  The graph and chart represent all residential sales recorded in our local MLS in Harrisonburg and Rockingham County.  Each year the number of home sales has slipped further and further down, with 2008 finishing out with only 931 home sales.

Thus, my hope for 2009 is that we can at least keep pace with 2008 --- with 931 home sales.  I'm not hoping for a miraculous turnaround with 1,200 sales --- I'd just like to see market activity stop sliding downhill. 

How are we doing with this goal so far, you might ask?  So far this year there have been 57 residential sales.  Last year by this time, there had been 72 residential sales.  We still have some catching up to do to hit the 931 mark by the end of the year, but it is indeed still early in the year --- and the stimulus package was signed into law less than 24 hours ago!

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