Weekly Special | May 6, 2024

Don’t Let Stabilizing Market Fool You

For the third time in the past six months, the number of home sales in Tallahassee has increased when compared to the same months one year prior.

This graph is a great tool to evaluate non-seasonal fluctuations in the housing market. Each vertical bar reflects the percentage change in the number of homes sold each month when compared to the same month the year prior.

Green bars register growth while red bars report declines. After 19 consecutive monthly declines concluding a six months ago, those of us in the real estate, mortgage, title, and supporting industries continue to see steady improvement in the months and years to come.

The threat of a historic housing crisis looms larger even as the market improves. Most elected officials in Washington D.C. and Tallahassee lack readiness for the impending housing sector challenges, with no concrete plans to mitigate what could be the economy’s greatest threat.

Politicians typically emphasize stimulating demand when addressing housing, often by attempting to lower interest rates or introducing new loan programs. However, such approaches are counterproductive during a supply shortage. With the US facing a deficit of about 9 million homes to accommodate its growing population, a supply-side solution is imperative.

We Need More Homes Let your preferred candidates know that you demand ideas and strategies for increasing housing supply, or else you’ll consider other options for your vote.

The original one-page Weekly Special PDF is still available.