My hope for the 2009 local housing market


My hope for the 2009 local housing market
By Scott Rogers • February 18, 2009
I am thankful that we have not seen much of a shift in home values in Harrisonburg and Rockingham County! However, the extremely slow rate of market activity that we are currently experiencing makes it very difficult for a homeowner to sell their home, and thus I hope that we will soon see market activity pick up in this area. Of note, we have seen a steady decline in overall residential sales for each of the past four years (shown above), with a 44% overall decline between 2005 and 2008. The graph and chart represent all residential sales recorded in our local MLS in Harrisonburg and Rockingham County. Each year the number of home sales has slipped further and further down, with 2008 finishing out with only 931 home sales. Thus, my hope for 2009 is that we can at least keep pace with 2008 --- with 931 home sales. I'm not hoping for a miraculous turnaround with 1,200 sales --- I'd just like to see market activity stop sliding downhill. How are we doing with this goal so far, you might ask? So far this year there have been 57 residential sales. Last year by this time, there had been 72 residential sales. We still have some catching up to do to hit the 931 mark by the end of the year, but it is indeed still early in the year --- and the stimulus package was signed into law less than 24 hours ago! Receive Updates by Email Recent Articles: 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 Consider The Cost Of Your Planned Renovations When Planning Your Offer
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 21, 2024 (unless otherwise noted).
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