New Home Construction Sales Versus Permits December 2009

When we look at new home sales versus new home permits in Tallahassee, we see that sales have been out racing permit for about a year. This means that new construction supply is dropping (we are consuming faster than we are producing homes). With a glut of homes still available, this has been helping to lower the inventory. Hopefully, we'll see the market hit equilibrium and our local builders will be able to get back to work.