Lot Sales Slowing Faster Than Home Sales

1,507 homes sold in Harrisonburg and Rockingham County in 2004, compared to a projected 983 this year (2008).  That shows a decline of 35% when comparing 2004 and 2008.

In stark contrast, 411 lots (less than one acre) sold in Harrisonburg and Rockingham County in 2004, compared to a projected 79 this year (2008).  That shows a massive decline (as pictured above) of 80% when comparing 2004 and 2008.

If you're looking to sell a lot right now, you may need to prepare yourself for a long wait.  The current inventory of 363 lots may take a few years to sell.