City Housing Inventory Levels Stabilizing, At Extraordinarily Low Levels


City Housing Inventory Levels Stabilizing, At Extraordinarily Low Levels
By Scott Rogers • October 31, 2018
Perhaps inventory levels (number of houses for sale) can only go so low in the City of Harrisonburg. As shown above, inventory levels are "stabilizing" around 100 homes for sale. This is still a significant decline from where we have been over the past six years, but at least the trajectory is not still declining. What would it take for this inventory level to start rising again? Fewer buyers wanting to buy -- which does not seem likely now or in the near future. Construction of new homes. There are some being built -- but not many. Most new construction in the City is student housing. Homeowners selling in the City, and buying in the County. This is a net increase of one additional home that can be sold/purchased in the City. Homeowners selling in the City and leaving the area. I suppose this happens from time to time, but not frequently. Homeowners selling in the City and not buying a new home. There is no easy way to turn this trend around -- and to have more options for City home buyers -- and until this does change, it can be quite challenging for buyers to find a home they want to purchase in the City. So, if you are looking to buy a home in the City, be ready to patiently wait for the right opportunity to come along, and then be ready to act quickly! Stalk homes for sale @ NewListingsInHarrisonburg.com. 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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