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Local Housing Inventory Drops 4% Overnight

As we all flipped our calendars to the new year, 29 homes in Harrisonburg and Rockingham County came off the market.  This reduced the inventory of homes for sale from 807 to 778, in other words, a 4% drop.

It is possible that it was an arbitrary drop.  There were likely many listing agreements with expiration dates of 12/30/2007.  It will be interesting to observe whether there is a corresponding surge of new or renewed listings in the coming days.

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