Contracts slow in November 2017 within context of declining inventory


Contracts slow in November 2017 within context of declining inventory
By Scott Rogers • November 22, 2017
In the first 21 days of November, this year, 61 buyers have signed contracts to purchase homes in Harrisonburg and Rockingham County. Compare that to last year, when 72 buyers had signed such contracts, and you'll note that there has been 15% decline in contract activity when examining this relatively small window of time. Why might this be happening? Perhaps it is because buyers have fewer and fewer options of homes to purchase. Also shown above, you'll note that in early November of this year, buyers had 356 listings from which to choose -- and last year they had 480 choices. This marks a 26% year over year decline in options for buyers. I am hopeful that we'll see this inventory situation turn around at some point, but until or unless it does, buyers are not likely to have very many options for homes to purchase. 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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