July Housing Reports Less Sour

Posted by Joe Manausa on Thursday, August 13th, 2009 at 12:22pm.

thirty seven months of declining home salesThe data is in for the July housing reports in the Tallahassee real estate market. Even though I am still in New York City, I am able to download the data and I brought my spreadsheets with me. Of course, the first thing that I did after I recorded the data for the month of July was look to the Year over Year Housing Report to see how we did.

Year Over Year Home Sales Decline For Record 37th Consecutive Month

Every month I look to this real estate graph with the hope that we will see the next step in the turn of the housing market in Tallahassee. When we look at the history of home sales in Tallahassee, we cannot find a time when more than nine months in succession were recorded with the same trend. We see runs of nine months in a row positive, and we see some runs of nine months in a row negative, so it absolutely blows my mind that we are in a run of 37 months in a row to the negative.

Tallahassee-Year-over-Year-Home-Sales-Report

Perhaps we can get something positive from this as we see that the past two months are showing a reduced rate of decline. If the government were to report this, they would call this "positive" for the housing market. I see it as less negative. To put it in perspective, this real estate graph is telling us this:

  • July 2009 reported 9.7% fewer home sales in Tallahassee than July 2008
  • July 2008 reported 32.4% fewer home sales in Tallahassee than July 2007
  • July 2007 reported 19.7% fewer home sales in Tallahassee than July 2006
  • July 2006 reported 9.3% fewer home sales in Tallahassee than July 2005

Single Family Home Sales Continue Decline In Tallahassee

Another graph that really puts some historical perspective on the severity of the decline of home sales Tallahassee is the Single Family Home Sales Trend Graph. In 1991, we averaged over 300 home sales per month, and I never thought we would cross back below this level. I thought it was the "floor" for home sales in Tallahassee.

Tallahassee Single Family Home Sales Trend

We have crossed over the 300 and we are now approaching the 200 home sales per month level, a number so low it is staggering. I am hoping that this means we are building some "pent up demand" so as the market recovers, there will be plenty of families ready to move.

subscribe-to-the-exclusive-tallahassee-real-estate-newsletter

Subscribe in a reader Subscribe by email

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Additionally, if you would like to respond (leave a comment) to this article, you will need to “click through” to the blog site to post your feedback.

Keep checking out the Tallahassee Real Estate Blog every day for updates on real estate in Tallahassee Florida.
If you like this Article then please subscribe to my blog through a full RSS feed, or you can Subscribe by Email. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market.

Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.

NewsletterArchives MarketReportBlog
 View Joe Manausa's profile on LinkedIn

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.

Leave a Comment