January Inventory vs. Past Year of Home Sales


January Inventory vs. Past Year of Home Sales
By Scott Rogers • January 24, 2017
For the past four years (2013, 2014, 2015, 2016) and even some before that, we started off the year with enough homes actively listed for sale to last us for right around six months -- or a bit longer. This balance (a six month supply of housing inventory) is considered by many analysts to be an indicator of a balanced housing market. Well, this year (2017) is quite a bit different. Inventory dropped 26% over the past year, and sales rose 17%. As you would, thus, expect - we're starting off the year in a slightly different spot, as shown above. This year, the amount of homes actively listed for sale (413) will only last us 3.8 months based on last year's pace of sales -- which is quite a bit different than the balance we have seen at the start of the year for the past four years. So -- this year will be interesting. Will sales decline because there aren't enough homes for buyers to consider? Will prices rise as many buyers fight over a small number of listings? Will we see just as many home sales last year, but with an even lower "days on market" as each new listing gets snapped right up by a buyer? Stay tuned! 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).
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