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Home Builders: More Houses Are Needed In Tallahassee

Shout out to homebuilders: We need more houses in Tallahassee

We need more houses in Tallahassee, so consider this a shout-out to all homebuilders to make us some more!

The inventory of homes for sale in Tallahassee is far too low, and that means there are buyers who are ready to move yet have nowhere to go. Today's post starts with all new homes for sale in Tallahassee and then delves into the rate that new homes are being listed for sale.

New Construction Homes For Sale In Tallahassee

160 Properties
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New Construction Entering The Tallahassee Housing Market

As you saw from the list of new home construction above, there is not a whole lot going on in Tallahassee.

The graph below shows the trend of new homes entering the market as well as the average price trend (trend means the one-year average for both measurements).

Graph of number of new construction listings and average price in Tallahassee

The average number of homes being built each month is on the rise, and if all we had for data was this graph, one would think we are not far from an all-time high number of new homes being built.

Unfortunately, that is not the case. Our current average of just under 40 per month is far lower than the 150+ per month we averaged in the 1990s and far below the overzealous building that we saw after the turn of the century. Unfortunately, the losses incurred 15 years ago still have builders and bankers a little squeamish about another bubble (watch this video if you have concerns about a new bubble forming).

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Both New And Existing Listings Are Too Few

When we look at all fresh new listings (both new construction and existing homes that have not been recently listed for sale), we see that the amount of houses being listed for sale is the second-lowest in the past 7 years, and yet the demand is the highest.

Graph off all fresh new listings in the Tallahassee real estate market

Right now, there appears to be a slow-down from existing homeowners entering the market due to fear of the pandemic, and that makes perfect sense. But the ones that are entering the market are getting sold for top dollar and buying replacement homes with historically-low mortgage interest rates.

My recommendation for those who were planning on moving this year (but who have been stalled by the pandemic), give us a call and let us discuss some of your options. You might be amazed at what you can do today.

As for our readers who are homebuilders, talk to your lenders about producing more inventory when the pandemic allows. Even prior to new construction slowing due to health concerns, the pace of new homes being brought to the market was far too slow. There is a great opportunity for builders who bring the right homes to the market.

Recent Video Housing Market Reports

Housing Market September 2020 | Ginormous Real Estate Report
The September 2020 housing market update is ginormous, the kind I only produce a handful of times each year. Follow along as I walk you through current housing market conditions and conclude with a specific demonstration of how current conditions could be exploited. If you own a home or plan to own one sometime soon, this is what you need to know.
Is The Housing Market Too Hot To Sustain?
The real estate market September 2020 continues to be hot, despite no end in sight for the COVID-19 pandemic. I was wondering, "is the housing market too hot?" Is the current rate of sales sustainable? Are we seeing 2003 through 2006 conditions happening again? This housing market report starts with a look at the big picture, the US housing market, and then drills down to Tallahassee housing market, and finally to zip code level in the Tallahassee real estate market. Sit back, relax, grab a cold drink, and
Foreclosures 2020: The Coming Coronavirus Foreclosure Crisis
Is there a foreclosure crisis or is it fake news? I’m seeing a lot of videos and articles about the impending doom of the housing market. A tsunami of foreclosures? Evictions by the millions? Home prices dropping by 40%! There are a lot of doomsayers getting a lot of attention these days. Wouldn’t it be interesting to take a fact-based look at the housing market instead? Sit back, relax, and watch our Housing Market 2020 Forecast, and you'll discover the real deal about the impending foreclosure crisis in

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The Business of Getting Business is the critical survival guide for those that choose to dig in and fight.”
   – Anthony Noto, CEO, SoFi and former COO, Twitter

Get the book that explains it all, in a manner that is understanding to all, even technology neophytes. It's available on Amazon, a trusted source for consumers.

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917