Every month when the new data is posted for the previous month, I like to assemble a huge housing report which provides a visual representation of the Tallahassee housing market. Our end of month data was received yesterday so today we will show the beginning of our real estate report for November. By observing charts and graphs with analysis, even somebody who rarely tracks the real estate market can understand what is occurring now and what is likely in store for the next few months.
The November real estate report shows signs that our earlier forecasts were spot-on, and that the many optimistic housing reports that were created and circulated by the National Association of REALTORS® were not as much market reports as they were marketing hype hoping to positively impact the market. It is my belief that honest, accurate reporting will better serve our readers and give them a decisive advantage in this difficult housing market.
November Real Estate Report Graphs
The following 18 real estate graphs (click each graph to enlarge) show some very obvious trends that have been very easy to see if anybody was paying attention. Home values are dropping, land values are dropping, demand is dropping, and nearly everything is dropping.
The Tallahassee real estate market (as well as the US housing market) is grossly over-supplied with homes and only the growth of our population or the destruction of inventory is going to bring us to a balanced market where supply and demand are competing again at healthy levels.
Don't forget, we post regular market reports (see tab on top of web site) on a regular basis, and you can subscribe to the Tallahassee Real Estate Newsletter for regular updates including charts, graphs, and analysis of the Tallahassee real estate market.
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.