Monthly Housing Cost for Median Priced Home Climbs Further in 2019


Monthly Housing Cost for Median Priced Home Climbs Further in 2019
By Scott Rogers • January 23, 2020
As should come as no surprise, the monthly cost of housing is increasing -- and has been increasing more quickly over the past several years (2018, 2019) as compared to many prior years. The graph above devises a monthly cost of housing using the median sales price of homes sold in Harrisonburg and Rockingham County and the mortgage interest rate at the time. The payments above assume that a buyer finances 80% of the purchase price at the prevailing rate -- and these housing costs include an estimate of real estate taxes and homeowners insurance. Of interest -- this monthly cost... has increased 18% over the past two years is still below the peak seen in 2006, 2007 and 2008 Over the next few years, it seems likely we will see a continuation of this trend, as sales prices and mortgage interest rates are both likely to continue to increase. 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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