It's best not to get your face too close to the data.  The closer we look at the data, at a smaller and smaller data set, the more likely we can find ourselves concluding one thing when another is actually true.  So, as you ponder the meaning of the graph above, keep in mind that the last set of data (October 1 - 15) is a rather small set of data... from just two weeks in our local market... so it may or may not be indicative of an overall trend.

But... with that length disclaimer having been thrown out there...

After seeing modest declines in contract activity in August (-13%) and September (-15%) it seems that contract activity might be REALLY slowing down (-51%) in October.

Last October, in the first half of the month, a total of 81 contracts were signed for buyers to buy and sellers to sell houses in Harrisonburg and Rockingham County.  This year in those same 15 days, only 40 contracts have been signed.

It's hard to say if this significant decline in contract activity will continue as we move through October and into November, but if things were slowing down slightly in August and September, they seem to be slowing down more quickly in October.