The housing market is strengthening, not only here in Harrisonburg and Rockingham County, but also around the rest of the nation. In fact, there are four regional sectors that the National Association of Realtors® (NAR), and Virginia is in the “South” region, which experienced a 12.7% increase in home sales from September to October of 2009. (That is a seasonally adjusted number.) Check out this video to get more informative and positive data from Lawrence Yun, the Chief Economist of the NAR:
Here is a chart showing the different regional existing home sales changes in price from last year:
All this to say, we are in recovery! And it is due largely in part to the real estate market. Sales are increasing (overall), which means home values will increase again, and money is moving yet again through the economy.
This is great news for a Monday morning, don’t you think?