First, some raw data...
Resale Home Sales:
- 2017 = 1,113
- 2018 = 1,145
- 2019 = 1,157
- 2020 = 1,290
- 2021 = 1,359
So, there have been more and more resale homes selling over the past five years.
New Home Sales:
- 2017 = 149
- 2018 = 161
- 2019 = 167
- 2020 = 205
- 2021 = 309
There have also been more and more new homes selling over the past five years.
The graph at the top, though, tells a third story -- an increasing portion of home sales are new home sales.
Between 2017 and 2020 new home sales comprised 12% - 14% of all home sales.
Then, in 2021, that jumped up to 19% new home sales. Thus, last year, approximately one in every five homes sold was a new home.
This would seem to be good news, generally, as there is an ever increasing number of people who want to buy homes and make Harrisonburg their home -- so we'll need to see more new homes to help provide that housing.