There are almost 150 homes for sale now in Harrisonburg and Rockingham County... we're at 147 at the moment... and this would be the first time since late 2020 that there were 150 options for home buyers.
But... do note that more than a third of them (53 of 147) are new homes. This isn't a bad thing... it's just that new homes in new home communities are only going to work for some buyers... they are particular property types, at particular price points in particular locations.
Higher inventory levels means more choices for buyers which could mean -- if inventory levels were to keep climbing -- that there wouldn't be quite as fierce of competition for some new listings.
That said, I have been a part of several "multiple offer" scenarios over the past two weeks, so the overall market isn't necessarily calming down or cooling off yet.
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