January Inventory vs. Past Year of Home Sales

Welcome! This blog tracks the real estate market in the Central Shenandoah Valley, featuring market data and analysis, an exploration of common buying and selling questions, and candid commentary on all things real estate.

If you are interested in discussing any of the topics on this blog, or the details of your specific real estate situation, call or e-mail me!

Newer Post

home

Older Post


January Inventory vs. Past Year of Home Sales
By Scott Rogers • January 24, 2018 Filed In: analysis, inventory, market
In 2014, 2015 and 2016 we started off the year with enough homes actively listed for sale to last us for right around six months -- or a bit longer. This balance (a six month supply of housing inventory) is considered by many analysts to be an indicator of a balanced housing market. Last year (2017) was quite different. Inventory dropped 26% from 2016 to 2017 and sales rose 17%. As you would, thus, expect - we started off last year (Jan 2017) in a slightly different spot, as shown above. Which is, arguably, why we ended up seeing slightly FEWER home sales last year -- sales declined 4% in 2017 from 1309 to 1254. So, now, starting of 2018 -- are things any better? No. There are even FEWER homes for sale now than there were a year ago. Inventory levels dropped another 32% between January 2017 and January 2018 -- and the current inventory of active listings (280 homes) will / would only last us 2.7 months -- as compared to that balance point of six months. So, what then will this lead to in 2018? I am predicting slightly fewer sales than last year -- and likely faster sales -- and at slightly higher prices. Stay tuned! Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: Contract Activity Slows Heading Towards Thanksgiving Owners, Operators of Short Term Residential Rentals in Rockingham County to Pay Transient Occupancy Tax Will housing inventory levels improve next year? Foreclosures Slow Considerably in 2018 Home Sales Rise Yet Again In October 2018 Pricing Your Home Above $212,500 Eliminates Half Of All Potential Buyers Any Part Of A Bathroom Is A Full Bathroom To Zillow Early Preview of October Home Sales Activity Last Chance To Sell Your House in 2018 City Housing Inventory Levels Stabilizing, At Extraordinarily Low Levels
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 Nov 20, 2018 (unless otherwise noted).
Comments (0) or Subscribe