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Market Data For The Week of June 7, 2024 Suggests A Strong Sellers Market + Potential Pricing Changes

Is the local Real Estate Market Cooling?

This month's Market Action Index (MAI) for Harrisonburg, 22801 is slightly lower than last month's, and home prices have started to level off slightly. However, this doesn't necessarily mean the market is cooling or that this is a long-term trend. The change could be temporary so it is important to monitor the Market Action Index as well as the other market indicators on the right side of the image. 

The MAI: A Key Indicator to Watch

The MAI is a crucial indicator of market activity. A rising MAI typically indicates increasing prices, while a falling MAI could signal a potential decrease. The extent of any price drop is hard to predict, but inventory plays a significant role. Low inventory levels often lead to higher prices. Another sign to watch for is an increase in the number of days a home stays on the market. This could suggest a slowdown, which could be good news for buyers. Time will tell.

Get More Detailed Data

To access the interactive version of the MAI and data for 10 local zip codes in Rockingham and Augusta County, along with explanatory charts and graphs, register on the Valley Realty Associates website. The data we use is updated weekly, which makes it one of the most current sources of market data for the real estate market.  Watch the data from our market reports and stay informed. Information is power. Market reports for every zip code in the U.S. are also available on our site, so please register to check them out.

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