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Slower Home Construction Helps Reduce Inventory In Tallahassee

New single family permit and sales activity has been declining in the Tallahassee real estate market since January of 2006. While this is bad news for Tallahassee home builders, it is good news for the stabilization of the Tallahassee housing market.

The massive number of new homes that were built in 2004 and 2005 are a major reason that the Tallahassee real estate market continues to suffer from a glut of inventory. As we have discussed often in the past, it is our over-supply of homes for sale that creates the pricing pressure that has caused depreciation in our homes.

permitssales

What this real estate graph shows is that new home permit and sales averages have dropped below 50 per month. Compare that with the 140+ per month average that we were seeing at the height of the production boom in 2005! With new home permits in Tallahassee at the lowest levels in 19 years, it's no wonder we have seen home inventory levels drop over 800 units in the past year.

As always, keep your eye on inventory levels in the Tallahassee real estate market and you will be prepared for the market turn. Once we see a balance of 6 months of supply, we should start to see the turn from depreciation to appreciation.

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Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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Your Local Expert In Tallahassee

When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.

As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917