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
Tuesday, September 7, 2021
The most up-to-date way to think about the pace of market activity is how many buyers (and thus, sellers) are signing contracts in any given month.
I'll release my full market report within the next week or so, but the graph above provides an early look at the amount of contract activity that took place (contracts signed) during August 2021 within the context of the past few years.
Two main thoughts...
- There were fewer contracts signed this August as compared to last August... BUT... last August (and most of last summer) was a bit abnormal -- with lots of would-be spring buyers (and sellers) finding themselves buying (and selling) in the summer instead of the spring as a result of Covid uncertainties in spring 2020. So, while there was a decline from August 2020 to August 2021 in contract activity I think that has more to do with August 2020 being unexpectedly busy rather than August 2021 being unexpectedly slow.
- As further confirmation of the theory outlined above, the amount of contracts signed in August 2021 was much higher than the number signed in August 2018 and August 2019.
I expect that summer/fall of 2021 will be a bit slower this year as compared to last year -- but mostly because of the odd timing of market activity in 2020.
Stay tuned for my full market report later this month.
