In the first 21 days of November, this year, 61 buyers have signed contracts to purchase homes in Harrisonburg and Rockingham County.  Compare that to last year, when 72 buyers had signed such contracts, and you'll note that there has been 15% decline in contract activity when examining this relatively small window of time.

Why might this be happening?  Perhaps it is because buyers have fewer and fewer options of homes to purchase.  Also shown above, you'll note that in early November of this year, buyers had 356 listings from which to choose -- and last year they had 480 choices.   This marks a 26% year over year decline in options for buyers.

I am hopeful that we'll see this inventory situation turn around at some point, but until or unless it does, buyers are not likely to have very many options for homes to purchase.