Between 2015 and 2020 we were seeing new home sales making up between 10% and 15% of all home sales.
Since then, the portion of all home sales that are new home sales has increased significantly.
After a small jump to 19% in 2021 we then saw the new home sale share of the market increase to 26% in 2022, 25% in 2023 and then... 29% in 2024.
That is to say that almost one in every three homes that sells is a new home.
With multiple local, regional and national builders developing communities in Harrisonburg and Rockingham County, I think it is likely that we will continue to see at least 25% of all home sales being new home sales -- and that could increase up to 30% or higher in 2025.
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