Weekly Special | February 15, 2021

Low Inventory Alert – Sellers Needed!

Year over year home sales rose 15% in January, registering the fifth-straight month of gains and a growth streak in five out of the past six months.

Today’s graph shows how each month’s sales compared with the same month the year prior. We refer to this as the year-over-year home sales report. Year over year home sales comparisons provide insight into the market changes by removing the seasonal changes in the market.

The year-end rally that was fueled by buyers who opted out of the market when the COVID pandemic first hit Tallahassee in the first and second quarter continued through January, and if we gain enough inventory, we should see it extend even further.

Low mortgage interest rates have buyers chomping at the bit to get into a home before rates begin to rise. Bidding wars on the relatively few homes for sale will only escalate now that we have seen the inventory reduce to a new all-time low.

If you were planning to move now or in the next few months, consider jumping into the market today so that you can sell your home and then buy its replacement while taking advantage of today’s low mortgage interest rates.

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