Housing Inventory Change Trends March 31, 2010
By closely monitoring the short term housing inventory trends in the Tallahassee housing market, we see evidence that the number of homes for sale has started to grow again, as home sellers begin to enter the spring selling season.
What this means is that over the past 30 days, more homes have entered the market than have departed. Real estate inventory levels have risen. The short term inventory trends help identify current seasonal changes, if any.
When the red is higher than the green, we see short term inventory trends grow, while when all we see is green, housing levels fall. Right now, the pattern is showing seasonal growth.
This is consistent with prior years, where inventory growth was normal through the month of May or June at the latest.
Look for seasonal growth to continue and put more pressure on home prices. While this short term inventory trend increase is normal, we really need the reduction to return so that we can continue whittling away at the glut.
Tallahassee Real Estate LinksDo you want to know more about the Tallahassee real estate market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on real estate:
- Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
- Tallahassee Neighborhood Report: Tallahassee Subdivisions
- Current Housing Reports: Housing Market Reports
- Map Based Property Search Tool: MLS Property Search
- Foreclosure Reports: Lis Pendens and Foreclosures
- List of Distressed Properties in the MLS: Distressed Properties
- REALTOR® news and updates: Successful REALTORS®