January Inventory vs. Full Year Home Sales


January Inventory vs. Full Year Home Sales
By Scott Rogers • January 16, 2014
As Todd Rhea so eloquently said in a comment on my blog post yesterday.... "This inventory analysis is a big deal for the local market. In 2009-2011 the local market entered the year with more gross inventory than homes that were sold in the following 12 months. This year for every inventory unit entering the year, there will likely be 2 sales in 2014. The impacts on price from Supply and Demand have never been repealed. With lower supply (inventory) and modestly growing demand, days on the market should continue to fall, and prices should increase in 2014." I agree wholeheartedly with Todd.... The market is poised to perform quite differently this coming year as compared to previous years. The balance between buyers and sellers has shifted quite dramatically over the past two years, as shown in the graph above. Todd's predicted outcomes seem very likely to occur this year --- further reductions in days on the market, and increases in price. Stay tuned for what will hopefully be an exciting 2014! Please note: The 2014 home sales shown in the graph above are a projection, not a promise. :) 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 22, 2024 (unless otherwise noted).
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