Weekly Special | October 14, 2019

Strong Year Over Year Gains In September

Year over year home sales soared 30 % higher in September, a showing strong enough to bring the market back to nearly even for the year. Currently, the Tallahassee MLS reports just five fewer home sales in 2019 through September than we did through the same time last 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 a month shows more home sales than that same month in the prior year, while red vertical lines show declines.

Over the past twelve months, there have been six months of declines and six months of growth, for a grand total decline of about 1/7 th %.

I believe we are seeing a combination of several factors that will propel 2019 beyond 2018 before year’s end. First, (knock on wood), there has been no major hurricane that has hit our area. Second, mortgage interest rates fell from low to crazy-low, and this perhaps has invigorated and already solid market.

By year’s end, 2019 will very likely be remembered as the fourth strongest year on record for home sales.

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