Hello world!

For the fifth straight month and in six of the past seven months, the number of home sales has declined.

The graph in this week’s one-page special real estate report plots the change in year-over-year home sales and shows a very scary trend!

The supply of homes for sale has been too low for the past several years, and though we’ve seen falling demand due to rising mortgage interest rates, the majority of homes on the market are already under contract with buyers.

Is the lack of inventory getting resolved, or are we seeing improvement finally in the Tallahassee real estate market?

We address this question in this week’s one-page special real estate report.

When we look at the median existing home value over time, we see the impact that the diminished inventory of homes for sale is having on home values.

The market has been undersupplied since the end of 2016, so home values continue to increase at an alarming rate. Before 2021, I forecast double-digit appreciation, and regrettably, the market met my expectation. I had forecast the same for this year too. Will slowing demand bring down home prices, or are we set for a record-breaking year?

You can find out fast in this week’s one-page special real estate report.

Homebuilders are having difficulty delivering homes to the market at prices people can afford today.

The graph in this week’s one-page special housing report plots the monthly median price per square foot of both new and existing homes and delivers the perfect image of why home prices are soaring.

Many people believe a price correction in housing is imminent, and I must admit that my instincts are to feel the same way.

But the reason I’m so studious regarding available housing data is that I don’t want to rely on feelings, I want to rely on facts.

Look at today’s one-page special housing report to see some facts that do not add up!