Did The Local Housing Market Slow At The End Of 2018?


Did The Local Housing Market Slow At The End Of 2018?
By Scott Rogers • January 16, 2019
Oh my heavens! Take a look at the graph above! DID the local housing market slow at the end of 2018??? I am going to lean towards: sort of, maybe a bit, but not much. The graph above... Is examining the a "rolling 12 months" of home sales -- to calculate the annual pace of home sales on a monthly basis, looking back 12 months at each point during 2018. Does show that there were technically declines in the annualized pace of home sales during four the the last six months of 2018. Might be overly dramatic based on the scale of the Y axis. So -- if you like the high stress graph above that unintentionally uses Christmas colors, and might make you feel unsettled about the changing tide of the local home sales market -- then stick with that one and close your email/browser. If you want an alternate perspective on the same data, keep reading... This graph (above) shows the same data as the first graph -- but by taking the Y axis all the way down to zero we get a better sense of the fact that the slight declines in the annualized pace of homes sales in the second half of 2018 were just that -- slight. So -- is the sky falling? Are home sales declining? Did we peak in mid-2018? Well, maybe, but I don't think we can conclude that definitely or with much conviction at this point. The overall downward adjustments were rather small compared to the total number of homes selling on an annual basis. Stay tuned, then, for 2019 -- eventually we'll be able to draw some more conclusions about what actually happened in 2018! :-) 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 22, 2024 (unless otherwise noted).
Comments (0) or Subscribe