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We continue to monitor the housing inventory movement in order to have an idea of the direction of the real estate market. Anybody who wants to know “How is the housing market” really should be looking at the movement of inventory. If housing inventory is dropping, we know that eventually demand will outrace supply, and we will see prices moving up again in the housing market. The contrary has been true for quite some time now, seeing inventories grow in the Tallahassee real estate market for the past two years.
Fewer Homes For Sale In Tallahassee
Perhaps the most exciting thing that I can report this week is that the inventory of homes for sale in Tallahassee continues to drop. The short term trend (orange line) for inventory of Tallahassee homes continues downward at a nice pace of six homes per day, while the medium trend (green line) is shrinking by two homes each day.
Housing Consumption Is Worth Watching
I look forward to early next year, when we will be able to start posting a long-term trend (one year) that will give a great look at the Tallahassee housing market without any affects of real estate seasonality. But as far as the short-term goes, inventory is finally moving in the direction that we have been desiring for two years!
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{ 4 comments… read them below or add one }
Great research! I’m a numbers guy and appreciate the time you take to put together all your market graphs, etc.
Is it typical, historically speaking, for inventory to drop this time of year? Or, is it a sign of market improvement?
Thanks Bob. The fact is, I don’t know. We cannot pull that kind of information from the MLS very easily. But we will know in the future. We track inventory here daily now and have done so starting in the first quarter. By March of next year, we will have a one-year trend and be able to really see true inventory movement.
Once again Joe, I’m blown away by the depth of your analysis in the world of Real Estate.
This kind and quality of information is important in this shaky market.
Miss Gisele B.
Great blog Joe.