Rockingham County Absorption Rate Worsens As Summer Moves On

If you are living in Rockingham County and trying to sell your home, then you have been well aware of the fact that Selling your home is not easy. The current market situation for Rockingham County is not good and has actually deteriorated since my last posting on the absorption rate for the County in June.

In June I posted a blog stating that the absorption rate for the County (the amount of time it will take the market to absorb the current inventory of homes) was at 10.43. Currently the absorption rate for Rockingham County is at 11.34,which is an almost 1% increase in absorption time. What this means for the average property owner in Rockingham County is this, it is taking even longer to sell your house now than it did 3 months ago. In June it was averaging 10.43 months and we are now seeing an average time of 11.34. This increase in the absorption rate means that as a County, Rockingham continues to be in a declining market and you can expect to see prices of properties continue to go down since market conditions have continued to deteriorate.

Unfortunately, this is not good news if you live in Rockingham County. If you have your property on the market, you need to be listening to your Realtor even more, since our market continues to move down. If you are thinking of Selling your home and would like more information regarding market conditions and your specific property, please feel free to contact me.