Amazing Facts About Today’s Real Estate Market

  • New home construction was up 22% in February compared to January of this year. It is the first time housing starts have increased since June 2008, when they rose 11%. (source: US Commerce Department)
  • Nearly one-quarter of first-time buyers are single females who purchased their first home on a median income of $47,400. (source: REALTOR Magazine Online)
  • The top information sources used by home buyers in their home search: Real Estate Agent (84%), Internet (84%), Yard Sign (59%), and Open House (48%). (source: REALTOR Magazine Online)
  • Harrisonburg, Rockingham County, and Augusta County combined to have 51 new residential listings on the market this past week. That number will likely increase as the weeks run into Spring and Summer. (source: HRAR MLS)
  • The average sales price of a home in Harrisonburg and Rockingham County in 2009 is about $224,000, which is down only 0.80% from this time last year. The average square footage of each sold home has increased by 4.48%, though, so folks are getting more “bang for their buck.” (source: HRAR MLS)
  • First-time home buyers can get $8,000 in tax credit from the government, as long as they close on their home before December 1, 2009. See the details here.

About Lisa Oates

Lisa is the creative mind behind The Harrisonburg Homes Team, providing streamlined content management, quality authorship, and graphic design for Harrisonblog. She's passionate about blogging, enjoying life, and a good cup of coffee.