Housing Inventory Trends In Tallahassee March 2, 2010
Housing Inventory Trends in Tallahassee look mostly good when we observe the following real estate graph. The graph contains a 365 day average (meaning no effects from seasonality) for the following key measurements:
- Daily New Listings (homes for sale)
- Daily New Failures (homes leaving the market without selling)
- Daily New Sales (average number of homes selling each day)
- Daily New Pendings (average number of homes going under contract each day)
The real question on the table is whether or not the shadow inventory will emerge this year to slow down the progress that we have seen in all of the long-term trends. Of course, only time can tell. My bet is that we will see a lot of properties emerge from the shadows, but if new construction stays slow, this will only slightly slow the progress that we are seeing in housing inventory trends.
In the real estate graph above, the key elements of housing inventory trends are moving in a positive direction. We can see new listings decline (fewer people are putting their homes up for sale), new failures decline (fewer homes are leaving the market after failing to sell), new sales are rising (we are beginning to see more activity in home sales), and new pendings are rising (we should continue to see new home sales rise). All-in-all, a solid report at this time.
Great Tallahassee Real Estate Resources
Do 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 Tallahassee real estate:
- Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
- 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®