New home sales may be improving in and around Harrisonburg


New home sales may be improving in and around Harrisonburg
By Scott Rogers • February 15, 2011
New home sales may be improving in and around Harrisonburg -- based totally on anecdotal evidence. Several of the builders I work with have seen significantly increased activity since the first of the year, and this is after several years of declining new home sales, as shown below. It somewhat stands to reason -- as I pointed out yesterday, housing supply has been dwindling over the past six months. There was a 23% drop in listing inventory between July 2010 and January 2011, as compared to only a 5% drop during the same time period a year earlier. Fewer homes for sale leads to fewer selections for home buyers, leads some buyers to start exploring new construction homes once again. The trend over the past few years away from new homes was a matter of re-sale homes being more affordable than new homes. It was nearly impossible to build a new home at the same price that some re-sale homes were selling for in the market. Now, however, builders who have compelling products to offer, with competitive pricing, stand a chance to see a solid improvement in sales during 2011. 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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