The graph above examines the trend in the number of homes for sale in Harrisonburg and Rockingham over the past seven years. After three years of declining inventory levels (2011, 2012, 2013) we are now finally seeing inventory levels starting to increase again.
This likely means....
- Sellers believe the local housing market is recovering, and are now willing to list their homes for sale.
- Buyers should have more options of what to buy than they had in recent years.
- Any increases in the demand for homes that might have led to increases in prices of homes will be at least somewhat curtailed by this increase in supply of homes.
There is plenty of additional information about market trends in my most recent monthly market report. Read it online (
here) or download the PDF (
here).
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