Even though I'm on the road in San Antonio, I still keep an eye on the inventory trends in the Tallahassee real estate market. One trend lately has been disturbing and that is the 30-day trend. The graph below shows that inventories (the number of homes for sale in Tallahassee) has been growing for 35 days.
Will this trend continue? If so, will the long-term trend start to gain inventory as well? We will have to monitor this closely to know for sure. The point of all of this is that inventory levels are too high and we need to see them come down another 500 homes or so in order for the Tallahassee area to have its normal supply of homes for sale.
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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.