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Trouble Brewing On Supply Side Of Market

Contrary to demand which is growing, the supply of homes for sale continues to drop.

This week’s graph displays the count of year-over-year fresh listings entering the market. It compares each month of the year with the same month from the year prior, and it is troubling, to say the least, how 2021 has begun.

Find out what this means for a market already low on inventory in this week’s one-page special real estate report.

An Amazing Fact About Home Prices

In my quest to research the housing market like it has never been viewed before, I decided to look at average home prices over time. Since my data from Tallahassee only goes back to 1991, I decided to examine US home prices because Shiller provides data going back to 1890.

Holy cow did I discover an amazing fact about home prices.

Home prices rarely …. just click here to see the amazing fact about home prices in this week’s special real estate report.

Home Sales Don’t Follow Population Growth

Today’s report looks at thirty years’ of home sales and compares it with population growth.

Tallahassee’s annual population has grown at an average rate of 1.38% from 1991 through the present time, which means there are an additional 50% more people in Tallahassee today than there were in 1991.

One would think that there would be a parallel increase in the overall housing market, but today’s weekly special points out a surprising result of the population growth on home sales in Tallahassee.

Tallahassee Builders – Where Are You?

Through all of our inventory reports over the past few years, I have pointed out that we need more homes. We need existing sellers to put their homes on the market, but more importantly, we need home builders to deliver additional units to compensate for the lack of new construction over the past 6 years.

While we did see builders increase production in 2020, we have seen this trend reverse and you should see how March appears to be heading in this week’s edition of the Weekly Special Real Estate Report.

The One Housing Trend You Must Know

You might have heard the phrase that says “real estate is local,” referring to the fact that local economic conditions, combined with local housing supply and demand are the factors that are going to impact the value of any given property.

The phrase is as true today as the day it was coined. Nevertheless, there are national trends that are often replicated at the local level, and that is why we can see much of the US working through the same issues in housing.

The graph in this week’s one-page special report clearly reveals the most important trend occurring in the housing market today. If you have a stake in the housing market, then you should understand this trend.

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