Daily Home Sales In Tallahassee January 23, 2010
Daily home sales in Tallahassee have been on the rise since the middle of August 2009. Unfortunately, yesterday's look at pending home sales has us believing that this trend will flatten in the very near future.
When we look at historic figures, we can easily grasp the magnitude of the housing market correction that we have been enduring. We can also see how significant the "boom years" were. Finally, we find hope that the bottom of the market is behind us and that a full recovery has begun.
If we "zoom in" one the past year, we get a better feel for what is happening right now. Notice how the past few weeks (see below) appear to be flattening out. Combine this with the pending home sales report from yesterday and we can say with some confidence that the closed sales will be level or falling for the next 6 weeks.