Funkhouser Report Weekly - October 1, 2020

October is here and many people are beginning to think about the upcoming holidays.  While some are deciding what decorations to display, perhaps others should be thinking about planting a For Sale sign in their front yard!  The lack of housing inventory continues to frustrate buyers and hold back the Shenandoah Valley housing market.  

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The inventory numbers above are very low for all areas of the Shenandoah Valley.  Basic principles of supply and demand tell us that prices will continue to increase with low inventory as demand for housing stays strong into the fall.  In fact, the National Association of REALTORS indicates a balanced housing market has six months of supply.  Unfortunately, our market is currently experiencing supply less than one month in one area and up to two months in others.

If you are thinking about selling your home to upsize, downsize, or just need a change of scenery; now may be a great opportunity to make a move.  Give one of our real estate professionals a call to learn about the market conditions in your neighborhood and what your home is worth in today's market.

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Harrisonburg - Rockingham County

Page County

Shenandoah County

Staunton - Waynesboro - Augusta County