Weekly Special | August 14, 2016

July Home Sales Decline By 3%

For the first time in 2016 and only the sixth time in the last four years, home sales declined in July when compared to July of 2016.

In the graph above, the horizontal axis represents “no change” when comparing a month to it’s corresponding month from the previous year.

A green vertical bar measures positive change, while a red vertical bar measures negative change. The small red bar on the far right is reporting a 3% decline in the number of homes sold in July.

Is this a sign of the housing market cooling? Slowing down?

Perhaps, but I believe there is still a lot of upside remaining in the Tallahassee housing market.

As more homeowners emerge from negative equity positions, they are entering the market, selling their homes, and then buying a home.

Our internal growth rate will continue to expand unless a major economic event gets in the way (for example, a rapid rise in mortgage interest rates).

Expect much gainers than losers when you look at this report in the future.

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