Is a balanced market always this fleeting?

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Is a balanced market always this fleeting?
By Scott Rogers • April 17, 2017 Filed In: analysis, market
The graph shown above is an illustration of changing inventory levels (blue line) and the number of buyers buying in a six month period (orange line). The point at which the two lines meet is when there was exactly six months of inventory of homes on the market for sale. All of the months prior to when the lines met are times when (to varying degrees) there were many more homes on the market (housing surplus) than there were buyers to buy them (low demand). All of the months after the point when the lines met are times when (to varying degrees) there have been far fewer homes on the market (housing shortage) than there are buyers to buy them (high demand). Perhaps what has surprised me the most in the past year is how quickly the balance seems to be swinging towards a seller's market (low supply, high demand) when I thought we might stay in a relatively balanced market (high supply, high demand or moderate supply, moderate demand) for some time. Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: Can this house be rented to a large group of college students? Four Bedroom Home on 1.65 Acres Offers Views, Privacy in Fort Defiance Is it Time for a Price Reduction? Further Renderings of Altitude at Stoneport, student housing to be built on Port Republic Road 425 Bed Student Housing Complex to Open at Stoneport in Fall 2019 Contract Activity Slows, Slightly, in First Half of 2017 Where Have All The Townhouses Gone? Buyers Have Bought Them Every One! Significant Decline in Number of Houses for Sale in the City of Harrisonburg Home Sales Steady in Harrisonburg, Rockingham County in First Half of 2017 VDOT Plans for Harrisonburg and Surrounding Areas
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Jul 25, 2017 (unless otherwise noted).
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