Five months in a row we have seen year over year home sales improve in Florida. This is good. This is wonderful. But this has not yet made it uphill to Tallahasseee. Last week we reported in the Tallahassee Real Estate Blog that Tallahassee had just experienced 31 straight months of year-over-year declines in home sales.
Tallahassee has always seemed to lag the rest of Florida in the housing market. In 2006, when other markets were reporting incredible drops in home sales, Tallahassee was still holding on to remnants of the boom market. I remember thinking "our market is more stable because of State employment." Wrong. We just are slower to react to the national market forces that affect home sales.
Florida's Existing Home, Condo Sales Rise in January 2009
Follow this link if you would like to review the press release that shows Florida Home Sales For January 2009, and you will see that most of the rest of the state is turning around. I think this is the best news that we have seen in a long time and just like the past, I think the lag affect still exists. I hope sometime this year we will start to see year-over-year improvements, but certainly no later than next year.
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Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.