Tallahassee Real Estate Blog

Real Estate Forecast: Housing Market At Bottom

Posted: 21 Sep 2009 03:42 AM PDT

We have been monitoring the daily home sales in the Tallahassee MLS for many years now, watching first in shock as the numbers climbed to unprecedented levels, and then in horror as they fell well below anything we had every seen in over 20 years of tracking the Tallahassee housing market.

Daily Home Buyer Activity Seems To Have Stopped Falling

By tracking daily closed home sales, we can identify the unit home sales trends nearly to the day of a cycle change. This first real estate graph shows us the 365 day trend of daily home buyer activity.

Daily Home Buyer Activity Bottomed, Heading Higher?

In order to really see the change that has occurred in the daily home sales trend, we can look to the zoom of the graph above. The graph below shows daily home buyer activity for the past ten months.

New Pending Contracts Are Rising In The Tallahassee MLS

One way that many national publications predict the near future of the housing market is by tracking the number of homes that go “under contract” in the local REALTOR MLS. While there is a lot more information needed to made a real estate forecast, tracking the pending home sales is a great start.

Current Local Housing Market Information

The housing market bottom seems to have been reached, as real home sales and pending home sales data show a slight spike in upward movement for the first time in over three years. Charts, graphs, and analysis allow the reader to study this first positive sign in the Tallahassee housing market, and current housing market information in Tallahassee can always be found by clicking the Market Report tab at the top of this blog.

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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Century 21 First Realty. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.