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How Often Do Home Prices Fall?

If you believe home prices cannot come down, you might end up learning a tough lesson if you were to buy a home at the wrong time.

And if you believe that home prices must come down, you too might learn a tough lesson by failing to buy while homes are relatively cheap.

Rather than have unfounded beliefs (in either direction), why not study the past and see what it suggests will occur moving forward? We’ve done that very thing in this week’s one-page special real estate report.

Supply Remains Near Record Lows

The incoming supply of homes for sale continues to fall short of the demand for them, thus we continue to see bidding wars on most homes priced below $600,000.

Just how low is our current supply of homes for sale?

When we look at the supply of homes for sale, relative to the current rate of demand, the picture is quite clear. See the picture in this week’s edition of our one-page special real estate report.

Summer Home Sales Soar

Year over year home sales rose 24% in June, registering the tenth-straight month of gains and a growth streak in eleven of the past twelve months.

The graph in this week’s one-page special real estate report shows how each month’s sales compared with the same month the year prior. We refer to this as the year-over-year home sales report.

So where does this put us? How long is the streak? Find out in this week’s report!

July 2021

Download the July 2021 supply and demand report for homes in Tallahassee, FL.

The four corners of the Tallahassee real estate market are segmented by price range and the current months’ supply of homes for each quadrant and each price range are shown.

You can use this information to recognize home values and to prepare yourself to successfully negotiate your next transaction when you buy a home or sell a home in Tallahassee.

Tallahassee Trails US In New Homes

With the supply of homes so low in Tallahassee (and across most other US housing markets), I decided I would try to figure out how Tallahassee compares with the US average for new home construction activity.

The best comparison that I could come up with was to plot housing starts in the US against building permits in Tallahassee. The comparison is not perfect, but housing starts and permits are similar enough to give us a feel for how we might compare.

Take a look at this week’s one-page special report to discover how Tallahassee compares to the rest of the US in trying to deliver the inventory the housing market needs.

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