Population trends indicate housing market has more room to grow


Population trends indicate housing market has more room to grow
By Scott Rogers • February 17, 2014
The population of Harrisonburg and Rockingham County is increasing. If we take the average of 2000 and 2001 home sales as a baseline portion of the population to be buying in any given year, and then we project forward based on actual population growth, we can conclude that.... More people than usual bought between 2001 and 2007. (housing boom) Fewer people than usual bought between 2008 and 2013. (housing bust, and then recovery) There is further room for growth in the number of buyers per year in Harrisonburg and Rockingham County. Based on the data presented above, I believe the new "usual" number of people to be buying per year may be around 1,150 home sales -- which is still a decent amount of growth beyond the number of home sales (1,013) seen in 2013. And here is the data behind the graph.... 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 22, 2024 (unless otherwise noted).
Comments (1) or Subscribe