Weekly Special | May 18, 2020

Why Slower Home Sales Are A Double Whammy

Seasonality exists in most housing markets around the US, and Tallahassee’s market is not immune to it either. Tallahassee has it’s own version of on and off-seasons.

60% of homes sell during the months of March through August, while 40% of the homes sell from September through February.

We are clearly in what is traditionally the hottest six months of the year and are currently in the hottest contract-generating month of the year.

May Mid-Month Sales Slump It is very clear to those of us tracking home sales that the market has slowed over the past 45 days.

Currently, there have only been 159 home sales posted in May at the mid-month point, yet May has averaged a total of 460 homes sold over the past three years.

I’m pretty sure we’re not going to see 300 more homes close this month.

Until more home sellers enter the market to provide inventory for buyers, slower sales will be the norm.

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