Inventory Levels Are Rising, But Keep It In Perspective

Inventory levels (the number of homes for sale at any given point) are rising in Harrisonburg and Rockingham County.

The data in the circled area above shows an increase from...

January 2026 = 165 homes for sale

October 2026 = 239 homes for sale

We're now into November and that count has risen, slightly, to 241 homes for sale.

So, what do these increases in inventory levels mean for our market?

Mortgage interest rates are higher than they have been in a while, home prices are still quite high, and thus it is possible that rising inventory levels is a result of somewhat lower levels of buyers committing to buy houses.

That said, as can be seen over the past few years (and well before that) inventory levels often vary quite a bit during any given year.

The faint, red, dashed line on the graph shows the 12-month trailing average of inventory levels which shows a somewhat smoother or broader look at how inventory levels are changing over time.

In the "keeping it in perspective category" we should note that...

1.  That trailing red line shows general upward trends in inventory levels since early 2022, but not a significant shift.

2.  Current inventory levels are a bit lower than where we were in September 2019 just prior to the pandemic starting to have an impact on real estate markets locally and beyond.

Thus, what matters more when it comes to inventory levels -- is not where they are today, but where they will be in 3, 6 or 12 months.  Will we continue to see inventory levels climb for the next 12 months straight?  Or will they fluctuate up and down but stay around the same level where they are today?

And... of course... remember that these inventory levels are for our entire market.  If you're curious about inventory levels in your particular price range or property type, just let me know and I'd be happy to send you a better view of your corner of the local market.