As A Home Buyer, You Have Never Had Fewer Options

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As A Home Buyer, You Have Never Had Fewer Options
By Scott Rogers • February 17, 2021 Filed In: inventory, selling
It's a tough time to be a home buyer. In most locations and price ranges there are VERY FEW homes for sale! As shown above, the number of homes for sale at any given time has drifted lower and lower and lower over the past 13 years to the very lowest point EVER this month with only 107 homes for sale in all of Harrisonburg and Rockingham County. This shortage of housing inventory has quite a few impacts... Buyers should be prequalified before looking at homes so they can be ready to make an offer quickly. Buyers should plan to see houses on the first day they hit the market. Buyers should plan to make a decision about an offer on the first day they hit the market. Buyers should be ready to compete with other buyers in a multiple offer situation. Sellers should anticipate quite a few showings per day over the first few days on the market. Moving forward into the spring season, which will eventually happen after another 5 to 10 snow storms... We are bound to see plenty of new listings. These new listings are likely to keep going under contract very quickly. The higher number of new listings will likely not have much of a net impact of increasing overall inventory levels. So, welcome to yet another, stronger, seller's market as we look forward to spring 2021! Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: Mixed Use Developments in Rockingham County, Looking Around and Looking Forward Getting Ready To Sell? Focus On Neighborhood Sales Prices First! Who Is Winning In The Local Real Estate Market? Why Did So Many Homes Sell In Our Area In 2020? How Quickly Are Homes Going Under Contract? Home Sales Up, Prices Up, Inventory Down in January 2021 What Could Cause Our Imbalanced Housing Market To Balance Out? If You Might Sell Your Home and Buy A New One In 2021 You Probably Have These Three Questions 72 Apartments In Six Buildings Proposed in the City of Harrisonburg Adjacent To Planned Mixed Use Development In Rockingham County
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 Feb 25, 2021 (unless otherwise noted).
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