Tallahassee House Sales Show Steady Growth
Tallahassee house sales are picking up steam, and we have set a new high water mark for the first time in nearly five years.
While unit sales are still far below the level that we saw in the 1990s (the gold line in the graph on the right), we are finally seeing daily closed home sales exceed all previous levels during the real estate market recovery.
The growth in Tallahassee house sales is concrete evidence that we are finally gaining momentum in the housing market recovery.
Daily Tallahassee House Sales
The real estate graphs above and below measure the one-year trend of daily closed home sales. This means that each point in the graphs measure the average number of Tallahassee house sales each day, thus there is no movement in the graphs that are based upon seasonal fluctuations.
Tallahassee House Sales Up 17.4%
When we look at the vertical orange line in the real estate graph above, we see that Tallahassee house sales have grown about 17.4% over the past 365 days.
I believe that we are seeing growth in the number of buyers who are able to qualify for a loan, after having done short sales or other distressed home sales in the recent past.
The popularity of short sales in Tallahassee really accelerated in 2010, so we are just now starting to see the bulk of past sellers who are now able to again qualify for a home purchase.
The real estate market recovery is finally gaining some momentum, and the next three to five years should bring the activity needed for normalcy to return to Tallahassee house sales.
Expect to see the growth in Tallahassee house sales continue to rise, and based upon our historical figures, we can expect the growth to continue until we are seeing more than ten home sales each day in the Tallahassee MLS.