Latest Reading From The Housing Market Barometer
Wouldn't it be nice to have a housing market barometer that would provide us with an expected trend for home sales?
Several years ago I attempted to create one and called it the Manausa Housing Herd Barometer, and here is how and why it works:
How The Housing Market Barometer Works
Weather forecasters use an atmospheric barometer to measure the change in atmospheric pressure. As a general rule, a rise in pressure means your area should be clearing while a decline in pressure means that a storm is coming (or is already here).
We can gauge for a similar reading in real estate with the housing market barometer below.
The housing market barometer works in a similar fashion as an atmospheric barometer, meaning a trained professional must take a series of measurements and then report the current trend.
If you are curious as to why there is a herd of sheep pictured with this real estate market measurement tool, it is to remind us that people tend to move together, with a herd mentality. If we poll enough people, we will likely understand what most others will be doing.
Following from left to right in the image above, I can tell you that our housing market barometer has seen a recent transition from depression to hope. This is exciting news, as our barometer shows that Tallahassee is moving away from the housing market bottom.
Using The Housing Market Barometer
There is real hope in the Tallahassee real estate market for the first time since 2005 (where we were really experiencing thrill and euphoria).
Home sellers in most price ranges should understand that competition is still fierce and that there are still more sellers than buyers. The real estate supply and demand dynamic continues to favor the buyer, and our buyer's market won't go away at each price point until we clear the glut of homes from the last euphoric market.
Understanding how a home is marketed is more important in this transitional market than it has ever been before, so choose your real estate expert wisely when you decide to sell your home.
And if you want the absolute best guidance and a real peak at an accurate housing market barometer, just drop me a note and we can schedule a time to evaluate your specific situation and goals.
*Joe Manausa Real Estate is a brokerage company headquartered in Tallahassee, Florida. Its unique business model provides specialists to both home sellers and home buyers, and the results speak for themselves. JMRE has significantly more 5-star reviews on google than any other local competitor. Joe Manausa Real Estate is a leader in internet marketing and utilizes search engine optimization, email marketing, social media and data analytics to get their clients’ home sold faster and for more money than any other Tallahassee brokerage firm. For more information, visit www.manausa.com or call us at (850) 366-8917.
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