Inventory levels (the number of homes for sale) have been rising over the past year.

End of November 2024 = 160 homes for sale

End of November 2025 = 215 homes for sale

You can also see this visually towards the far right end of the chart above.

But, despite these recent increases, in a longer context, inventory levels are still quite low.  Let's take a look at what has been developing over the past 14 or so years.

Between 2012 and 2016 inventory levels fluctuated seasonally but weren't really rising or falling...

Between 2016 and 2019 inventory levels steadily declined from around 550 homes for sale to around 250 homes for sale...

As the COVID-19 pandemic showed up on the scene in early 2020, and as mortgage interest rates then declined quickly, inventory levels dropped even further, hitting levels of around 100 homes for sale by 2021...

We saw inventory levels start to run up, surpassing 200 homes for sale, during 2023, but then decline again in 2024...

During 2025 we have mostly seen inventory levels rise...

Looking ahead... it seems inventory levels will likely continue to stay below 300 homes for sale at any given time in Harrisonburg and Rockingham County, but we are not likely to fall below 150 homes for sale.

One of the largest current influences on inventory levels is the number of new homes being built and offered for sale at any given time.