Most housing market analysts consider six months of inventory (active listings) to be an indicator of a balanced market (between buyers and sellers). We have been out of balance for quite a few years now in most price ranges.

Even four years ago there were only 4.2 months of supply available in this price range, and now that is down to a shockingly low 0.8 months of supply.

We saw a balance four years ago with 5.9 months of supply available, but that has dropped to only 1.3 months of supply as of last month.

There was an oversupply of homes in this price range four years ago, with 7.5 months of supply on the market - but today this price range is significantly undersupplied with only 2.3 months of inventory on the market.

This price range was drastically oversupplied four years ago with 12 months of supply available, and now is "at a balance" with 5.8 months of supply available.

Read more about the latest market trends at HarrisonburgHousingMarket.com....