Will May 2014 Contracts Revive The 2014 Market?


Will May 2014 Contracts Revive The 2014 Market?
By Scott Rogers • May 16, 2014
As shown above, year-to-date home sales are down this year (233) as compared to last year (284). Many suspect that the long, cold winter may have made the first few months of the year slower than they would have otherwise been. Per that theory, we should see a huge rebound in contracts (now / recently / soon) to help the 2014 market catch back up with where the 2013 market was last year. Let's see what we're seeing thus far.... April contract numbers were strong in 2014, but not as strong as in 2013.... 107 contracts in April 2014 116 contracts in April 2013 Now, let's look at the first 15 days of May, this year versus last year.... 68 contracts between May 1, 2014 and May 15, 2014 71 contracts between May 1, 2013 and May 15, 2013 As you can see, over the past 45 days buyers have been buying at the same pace (actually a bit slower) than last year. Thus far we're not seeing a rebound of higher buying numbers than last year at this time. So, the big question -- we've seen an 18% decline in YTD sales so far in 2014 -- will that remain at -18% for the rest of the year? Will 2014 pull even for no gain or loss? Somewhere in between? Theories, predictions and guesses are welcome! 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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