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The Boom Is Over

Posted 2006-08-29

Housing Market Seeks Balance Of Supply And Demand

By Dan Wright

HARRISONBURG — What a difference a couple of years makes. In the fall of 2003, Jim Sipe referred to the local housing market as "inventory challenged," meaning homebuyers exceeded the supply of houses. At the time, Sipe was president of the Harrisonburg-Rockingham Association of Realtors, and the market was booming. Now in the late summer of 2006, the housing market has flattened, those who work in real estate say. "The housing...

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