Local New Home Sales Hit 7 Year High in 2016
Scott P. Rogers
After six years in a row of 54 sales or less of new single family homes in the Harrisonburg/Rockingham MLS, we have seen 73 such sales in the first ten months of 2016. This is an indication that local builders are starting to have a bit more confidence in speculatively building homes in Harrisonburg and Rockingham County.
Of note -- these numbers do not include the new homes that are built by home builders for individuals who own a lot or piece of land, and thus that never show up in the MLS as a home for sale.
With increasing sales, and declining inventory, this seems like an ideal time for local builders to begin more speculative building to help meet local buyer demand.
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