Who cares if home sales are slowing down


Who cares if home sales are slowing down
By Scott Rogers • October 13, 2017
The pace of home sales is down 5% this year as compared to last year. But here's an interesting perspective offered up by one of my clients.... Who cares if home sales are slowing down!? As he points out -- the number of homes selling each month might be of more interest to the Realtor profession than the buying and selling public. What an interesting point! He then goes on to call out several data points that are much more important to him, and that he suspects (I agree) are more important to homeowners: Are prices going up or down? Are inventory levels high or low? Low is better -- for everyone except those who want to buy a home. Are foreclosures high or low and going up or down? Indeed -- these three indicates are great benchmarks for the health of our local real estate market, and ultimately, he's right -- if prices are going up, inventory levels are low, and foreclosures are infrequent -- it doesn't matter quite so much whether home sales are slightly slower this year than last. So, chew on that for a bit. Home sales being higher than the previous year (at any given point) is not a necessary ingredient for a healthy real estate market. Read more about our local (slower-than-last-year) real estate market in my most recent monthly market report by clicking on the cover of the report below.... 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 23, 2024 (unless otherwise noted).
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