In the next week or so I'll provide a much fuller analysis of what March (and the first quarter of 2023) looked like here in the Harrisonburg and Rockingham County real estate market.

Until then, here's a first look at buyer activity last month.  A total of 119 home buyers signed contracts to buy homes in March 2023... which is...

[1]  Much lower than the second and third March of Covid -- 2021 and 2022 -- when mortgage interest rates were super low and buyers were stumbling over themselves to buy.

[2]  Slightly higher than the first March of Covid -- 2020 -- when we were all still trying to figure out what Covid was and how it would impact the economy and housing market.

[3]  A good bit lower than the three years just before Covid -- 2017, 2018 and 2019.

Housing inventory levels still aren't rising, so I think the lower contract numbers are related to a limited number of sellers being willing to sell -- not related to a limited number of buyers being interested in buying.