The Growing Impact Of New Home Sales In Harrisonburg, Rockingham County


The Growing Impact Of New Home Sales In Harrisonburg, Rockingham County
By Scott Rogers • December 4, 2024
Between 2016 and 2020 we were seeing around 150 to 200 new home sales per year, per the HRAR MLS. But since 2021 we have been seeing upwards of 300 home sales per year in Harrisonburg and Rockingham County as recorded in the Harrisonburg Rockingham Association of Realtors Multiple Listing Service (HRAR MLS). A few thoughts, notes and observations... 1. These numbers do not include all new home sales, as some owners of lots or parcels of land hire builders to build them a home and these homes never show up as a new home sale in the HRAR MLS. 2. Can you imagine how tight inventory levels would be in our market if these new homes had not been built? Fewer homeowners have been willing to sell their home in recent years, but thankfully there has been an increase in the number of new homes being built. 3. Pre-2021 the main regional / national builder in our marketplace was Evergreene Homes (Preston Lake) but since 2021 we have seen Ryan Homes and DR Horton join the mix. These larger non-local builders have been significant contributors to these higher numbers of annual new home sales. 4. Many new home developments are currently being built, or planned or proposed. Higher interest rates have kept (at least temporarily) some builders and developers on the sidelines but we will still see quite a bit of new construction over the next few years. In a growing area such as Harrisonburg and Rockingham County we will continue to see new home sales play a vital role in increasing housing options for people hoping to make this area their home. Receive Updates by Email Recent Articles: Port Place Townhomes, To Include 68 Townhomes, Proposed On Port Republic Road If You Will Be Selling Your Home In The Spring, Start Preparing Now Are Most New Homes Attached Homes These Days? How Much Should I Consider Spending To Renovate My Home? The Increasingly Difficult Challenge Of Purchasing A Detached City Home 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?
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 Dec 05, 2024 (unless otherwise noted).
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