Scott P. Rogers
Funkhouser Real Estate Group
540-578-0102  •  email
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Monday, February 17, 2014
Population and Home Sales

The population of Harrisonburg and Rockingham County is increasing.

If we take the average of 2000 and 2001 home sales as a baseline portion of the population to be buying in any given year, and then we project forward based on actual population growth, we can conclude that....
  • More people than usual bought between 2001 and 2007.  (housing boom)
     
  • Fewer people than usual bought between 2008 and 2013.  (housing bust, and then recovery)
     
  • There is further room for growth in the number of buyers per year in Harrisonburg and Rockingham County.

Based on the data presented above, I believe the new "usual" number of people to be buying per year may be around 1,150 home sales -- which is still a decent amount of growth beyond the number of home sales (1,013) seen in 2013.

And here is the data behind the graph....

Population and Home Sales