If only we could have seen this coming.  :-)  Just kidding -- we have seen it coming.  Knowing it was coming, though, didn't seem to inspire any actions to change the trajectory.

As shown above, inventory levels have been steadily dropping in the City of Harrisonburg over the past five years -- or perhaps even longer -- I only have a record of the past five years.

There have now been fewer than 100 homes for sale in the City of Harrisonburg for most of the past six months. 

How is this cured?

• Fewer buyers wanting to buy -- which does not seem likely now or in the near future.
   
• Construction of new homes.  There are some being built -- but not many.  Most new construction in the City is student housing.
   
• Homeowners selling in the City, and buying in the County.  This is a net increase of one additional home that can be sold/purchased in the City.
   
• Homeowners selling in the City and leaving the area.  I suppose this happens from time to time, but not frequently.
   
• Homeowners selling in the City and not buying a new home. 
  

There is no easy way to turn this trend around -- and to have more options for City home buyers -- and until this does change, it can be quite challenging for buyers to find a home they want to purchase in the City.