Fewer and Fewer Foreclosures in Harrisonburg, Rockingham County

Here's a reminder of what is a good indicator that our local housing market continues to get healthier over time -- as shown above, the number of foreclosure sales per year has declined over the past several years.

To put these into an even larger context:

• Just after the housing boom/bust tthere were as many as 270 foreclosures if we go back to 2010.
   
• Before the housing boom, between 2002 and 2007, there were only 63 - 97 foreclosures per year.
   
• During the past few years, as the number of foreclosures per year has declined (shown above) the number of home sales per year has steadily increased.

All in all, it is a good sign for our local housing market when the number of foreclosures per year declines.  It means more homeowners are able to stay in their homes, and make their mortgage payments, which is a general sign of a stronger local economy.