Contract Activity Slowing A Bit In July 2022?


Contract Activity Slowing A Bit In July 2022?
By Scott Rogers • July 28, 2022
In the first 25 days of July 2022, we have seen 88 signed contracts. Some context and notes... This marks a 27% decline from last July. This is the slowest rate of July (1-25) contract signing since 2018. The number of contracts being signed can be constrained both by the number of buyers willing to buy as well as the number of sellers willing to sell -- and perhaps most importantly -- the alignment of buyers who want to buy with the properties that sellers want to sell. I ran this analysis through July 25 (instead of 27 or 28) because it can take a few days for contracts to be reported to the MLS. Is this a massive slow down or a one month anomaly? Only time will tell, but thus far, contract activity in July is certainly seeming slower that I would have expected. 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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