Weekly Special | July 20, 2020

Pent Up Demand For Homes Is Growing

The number of homes sold each month continues to decline as we work our way through the COVID-19 pandemic.

Currently, we are seeing market activity similar to what was reported from 1994 through 2001. So let’s put that into perspective.

The average population in Leon County from 1994 through 2001 was about 255K people, while the estimate for 2020 is a hair under 300K. That means there are roughly 31% more people living in Tallahassee in 2020 than were living here during the 8-year span of 1994 through 2001.

Now I’m no rocket scientist, but it seems to me that a growing population (albeit a slowly growing one) should be reporting a growing trend of home sales (albeit a slowly growing one). That just is not happening, so where have all the buyers gone?

2 Pools Of Missing Buyers There are two types of buyers that are not buying homes right now in Tallahassee. The smaller segment are those that are priced out of Tallahassee and are buying in our surrounding counties, but the larger segment are those that cannot find a home because inventory is too lean.

If you have a home you’d like to sell, call me, I’ll blow your mind!

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