"New-Home Sales Plunge To 12-Year Low"


"New-Home Sales Plunge To 12-Year Low"
By Scott Rogers • December 30, 2007
Such is the headline of a front page article in the December 29, 2007 issue of the Daily News Record, with excerpts such as . . . "The housing market plunged deeper into despair last month, with sales of new homes plummeting to their lowest level in more than 12 years." "It is the one sector of the economy that doesn't show any signs of life." "It doesn't look like there is any resuscitation in store for housing over the next year..." "Sales and home prices are in a free fall." "The downturn is intensifying." Some important things to remember when reading the article: The majority of the facts and figures supporting the article are in relation to new home sales, not all home sales. The story is about new homes nationally, not just here in Harrisonburg. This doesn't mean that things are wonderful with the Harrisonburg real estate market, but the dramatic excerpts above could draw a DNR reader to conclusions about our local real estate market that simply aren't accurate. More reading on the Harrisonburg real estate market: An over-supplied high-end market in Harrisonburg Supply and demand by price range A strong fourth quarter (thus far) Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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