Long Term Home Sales Trends In Tallahassee May 2, 2010
Long term home sales trends in Tallahassee are still working their way down from the peak of the market established in 2006. For our readers who have been following this new technique (new to us and new to real estate market analysis), you will be able to see this report updated each month.
For our new readers, the real estate graph below represents the long term home sales trends in Tallahassee. By using a mathematical technique knows as regression toward the mean, we can forecast future home sales by studying how the faster moving trends are relating to the slower moving trends.
In the real estate graph above, the yellow dots are the actual number of homes sold each month, while the red, green and blue lines show the one year, five year, and ten year moving averages (respectively) of these sales averages.
The short term trend (one year moving average) has crossed both the medium and long term trends, while the medium term trend has crossed below the long-term trends. This is a classic picture of a market trending down. The one bit of good news from the graph above is that the short-term trend has started to move higher.
The most exciting future event that we are awaiting will be when the red line (short term trend) crosses over the green line (medium term trend), indicating the first bullish move in the market since 2006.
Great Real Estate Resource Sites
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 realty resources are some of the best that you can find, and they are updated on a regular basis and are worth a book mark for people interested in the changing dynamics of the market.