We'll see what March brings, but thus far, inventory levels are stay rather low in Harrisonburg and Rockingham County.  With just 136 homes on the market right now, this is the lowest inventory levels we have seen in over a year and a half.

Of note -- this "inventory level" metric measures how many homes are on the market "for sale" that are not under contract.  Thus, if 100 homes come on the market tomorrow and they all go under contract immediately, there will still only be 136 homes for sale.

Low inventory levels mean sellers don't have much competition (from other sellers) and buyers don't have much to choose from at any given point in time.

Looking back... inventory levels rose (131 to 230) between June 2023 and October 2023 as mortgage interest rates rose from 6.71% to 7.79%... but inventory levels have been mostly drifting back downward since that time.

Stay tuned to see how inventory levels change as we head into the spring real estate market.