Recent Rises In Inventory Levels In Context
Inventory levels are on the rise in Harrisonburg and Rockingham County. January 2023 = 109 homes for sale August 2023 = 193 homes for sale That's a 77% increase in…
Fewer Homes Are Selling, Though Prices Keep Rising, And Now Inventory Levels Are Rising Too!?
Happy Thursday morning, friends in and around Harrisonburg and beyond! After I process all the data... and create all of the charts and graphs... and doodle on them to…
Fewer Home Sales, But Prices Are Rising!? More Contracts But Inventory Levels Are Rising!?
Happy Monday afternoon to you, friends! This monthly market report is one of some enigmas, some contradictions, some puzzlement. Some of these will be familiar, some new…
Home Buyers In Some Price Ranges Are Likely Competing With Would Be Buyers From A Year Ago
Let's focus in on one particular segment of the home buying public... ...those relocating to the Harrisonburg area for employment. Plenty of folks relocated to our area…
Far Fewer Homes Are Selling, But Sales Prices Keep Rising
Happy Friday Morning, Friends! As per the headline above, far fewer homes are selling this year, but sales prices keep rising. But before we dive into it... First, if…
Do We Care How Many Homes Are Selling, Or More About Their Sales Prices?
Each month I publish a comprehensive report on our local housing market. A few years back, after I published a report showing that sales had risen by _% and prices had…
Contract Activity In June 2023 Was The Slowest It Has Been In A Decade, Much To The Dismay Of Would Be Home Buyers
It remains a tough time to buy a home in many or most price ranges and locations -- with limited resale inventory leading to continued low levels of contract activity. As…
Existing Home Sales Are Down 19% In 2023. Why?
We've seen a 19% decline in existing home sales in 2023 - which includes all home sales in the HRAR MLS except new construction sales. In the first five months of last…
Homes Still Selling Quickly, At Record High Prices, Despite Decline In Total Home Sales
Happy Monday morning, friends! They say summer doesn't start until June 21st, but the 85 degree temps yesterday certainly felt like summer. Regardless of the formal start…
What Might The Rest Of 2023 Look Like In The Local Housing Market?
Let's take some wild guesses here. Between June and December of 2023, what trends do I expect to see in the following areas... [1] Home Sales = no change (similar pace as…
Buying A Home In Harrisonburg When You Do Not Yet Live Here Is Particularly Difficult Right Now
TUESDAY: Nice! A pretty sweet new listing just hit the market. I will definitely plan to make the (four hour) drive to Harrisonburg this weekend to see that house!…
An Absence Of Competing Listings In A Broad Price Range Does Not Mean You Can (Or Should) Round Your List Price Up To The Top Of That Range
Most (all?) home sellers want to sell their homes for as high of a price as is possible. Makes sense. Why wouldn't you want the best possible price for your home? Pricing…