Weekly Special | December 16, 2019

November Makes It Four In A Row

Year over year home sales jumped 21% higher in November and was strong enough to push the market to more than 2.5% higher for the year.

The graph above shows year over year homes sales, which is a method of tracking change in the market. The green vertical lines occur when we record more home sales in a month than we did for that same month in the prior year. In a similar manner, the red vertical lines show declines.

Over the past twelve months, there have been four months of declines and eight months of growth.

The hot housing market has been fueled by historically-low mortgage interest rates moving lower!

What Could Stop This Market Demand is as strong as it has been in more than 13 years, yet there is a problem that could slow the market and make homes less affordable.

The inventory of homes for sale is too low in Leon County, and we are not seeing signs of construction replacing the lacking inventory.

Expect to see home values move higher in 2020, at higher than historically-normal rates!

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