Contract Activity Slows, Slightly, in First Half of 2017

As shown above, fewer buyers (696) signed contracts in the first half of 2017 as compared to the first half of 2016 when 718 buyers signed contracts to buy homes in Harrisonburg and Rockingham County.

Based on all of the conversations I have had with buyers, lenders and Realtors, this is likely primarily a result of low inventory levels.  The buyers are there -- ready to buy -- the sellers (and their homes) are not. 

Of course, there are homes listed for sale right now, but quite a few less than we'd normally see at this time of year, which leaves many buyers on the sidelines -- with the desire to buy, but without a house for sale that is a good fit for them.