Daily Closed Home Sales Shows New Trend
The daily closed home sales information graph has been updated. The Homebuyer Tax Credit has come and gone, and by the looks of it the Tallahassee real estate market benefited as planned by our leaders in Washington.
The real question now is will the stimulus provided over the past year be a starting point in the housing market recovery? Or will it have been just a wasteful exercise in government spending that only acted as a temporary band-aid for a harder ailing market? The easiest way to find this answer is to observe daily closed home sales and not the current one year trend. If the trend is rising, the market is strengthening, if it is falling, it is weakening. Remember, the one year trend removes all seasonality and is very good view of the current trend in the Tallahassee real estate market.
The real estate graph below shows that thus far, home sales have only fallen a very small percentage. We know that the stimulus should affect closings for another month or so, thus we must look to see the real answer to the question of stimulus success when the September closings start to get posted. We have to hope that the market recovery gained enough traction to continue, but only time will tell.