I believe that the stages that the Tallahassee real estate market must go through to complete the market correction are both predetermined as well as predictable. The key is to pay attention to home inventory changes and buyer activity, as we do both daily here at the Tallahassee Real Estate Blog.
Real estate trends do not change overnight, so we should be able to see them coming. If we know what part of the cycle that we currently are working through, then we should know what the next change will look like.
Real Estate Market Forecast
It is knowing the five sequential phases in a market turn that allows us to anticipate these current and future real estate market changes.
Real Estate Trend Continues Downward In Tallahassee
Unfortunately, we have to report that home sales declined 37% in April as compared to April of last year. The remarkable streak of 34 straight months of declines continues in Tallahassee, even while some of the larger markets nationwide are seeing year over year growth in home sales.
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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.