housing report: Shocking 80% Of Housing Reports Have Shown Declines - 05/17/12 06:16 AM
The numbers for April are in, and the Tallahassee housing market is reporting 6 straight months of declining home sales in the Year over Year Real Estate Report.
While most of the data we use for our real estate reports comes from the MLS in Tallahassee, we occasionally look to the bigger picture and use information on Real Estate Reported to the Leon County Property Appraiser. This includes all of the MLS sales, as well as those sales that occurred without the use of a Realtor.
I point this out because Realtor reports (including the ones that I provide) that solely … (6 comments)
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housing report: It Is Time For Real Estate Agents To Step Up And Be Counting - 05/11/12 06:32 AM
Two of my recent blog posts have received some attention by real estate agents from around the Country, and so this week has brought me more interaction with my peers than any week that I can remember for a long time.
While the feedback that I have received has been varied, I have noticed a positively common theme from real estate agents from many different markets.
I am hearing reports of low inventory.
At face value, this is not just good news, it is the very news that we have been waiting to hear. Falling inventory is a major "next step" … (2 comments)
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housing report: Surprising Gains In The Year Over Year Home Sales Report - 04/13/11 09:36 AM
For the third consecutive month, year over year home sales grew in the Tallahassee real estate market. This type of measurement compares a current month with its counterpart from a year ago, so the updated housing report shows that March 2011 saw 16% more sales than March 2010. Considering that at this time last year we were in the end-run of the Homebuyer Tax Credit, this news is very surprising. It means the housing market is doing better without the Tax Credit than it was with the credit.
The information that was used to create the real estate graph below is … (2 comments)
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housing report: Do You Have Fly's Eye Vision For Your Housing Market? - 03/01/11 09:30 AM
If you want a clearer picture of what is going on in the real estate market, consider viewing the world through the eyes of a fly. A fly?
Absolutely. The fly’s eye (as those of you who watch the discovery channel know) has a design known as the “compound eye” which allows the fly to see through a large number of lenses and at a wide angle. Each one of these optical units has its own lens and thus the fly is seeing a collage of hundreds of images as it views the world.
This is the technique that people … (2 comments)
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housing report: How To Forecast The Housing Market's Future - 02/09/11 10:42 AM
If anybody claims to have a scientific method to forecast the future of the real estate market, I have yet to see it. I have devised my own version of "real estate math" in the hopes developing a model that will bring about accurate reports for near and long term expectations for trends in the housing market. I believe I have made some progress, as my blog post in 2008 (click to see 2008 real estate forecast) has done a good job thus far in forecasting home sales in Tallahassee.
Real estate math is just a term that I use to … (0 comments)
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housing report: The Problem With Housing Reports - 01/27/11 06:33 AM
I sometimes find it difficult understanding housing reports that are published or reported by the national news media, and apparently I am not alone. You see, most of the national reports that appear on the television and in print are a synopsis of monthly reports by the National Association of REALTORS (NAR), so you have to recognize that “our lobby” is putting a positive spin on everything that is being reported.
Recently, a reader of the Tallahassee Real Estate Blog sent in the following question, showing that it is not always easy to understand housing reports that are being thrown … (8 comments)
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housing report: Real Estate Graphs From MS Excel - 10/12/10 08:30 AM
The real estate market in Tallahassee has bottomed again, hitting a level below our August 2009 “Floor” that we had hoped was left far behind. Though plenty of anecdotal evidence has been around for months, the newly released October Housing Report has everything graphically presented to show that 2010 is now the worst year on record in real estate in Tallahassee, Florida.
Yesterday’s supply and demand graph for real estate in Tallahassee showed that our supply levels are again growing, and that we have many years worth of supply to work through. But today’s report also shows the slowing of sales.
… (5 comments)
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housing report: Leon County Inventory: High But Best In Region - 10/11/10 09:26 AM
The Tallahassee real estate inventory report for October has been posted over at our Market Reports Blog, and it should come as no surprise to our regular readers that inventory levels are rising. You can download a copy of the October Housing Report here or anytime in the right sidebar of the Market Reports Blog.
When we take a look at the entire Tallahassee MLS, we can see that the whole of the Tallahassee real estate market has so much inventory now than existed before the boom of the housing market in 2004. In the real estate graph below, the blue … (0 comments)
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housing report: YTD Housing Report: 2010 Unseating 2009 As Worst Year Ever - 09/22/10 09:20 AM
The August Year To Date Home Sales Report shows that 2010 is shaping up to most likely be the worst year for home sales in Tallahassee since I began tracking real estate market information in 1991. It appears as if the positive start to the year will be replaced with a weak finish, mostly due to the end of the Homebuyer Tax Credit which had propped-up the market for about a year.
Three Year To Date Real Estate Graphs Each and every month of the year, I produce and examine the Year To Date report on condominiums and townhouses, single family … (0 comments)
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housing report: New Inventory Report Send Chills Through The Housing Market - 09/08/10 06:33 AM
We have faced many struggles in the Tallahassee real estate market over the past few years, but I suspect we might be heading into the worst of it right now. All of the housing reports that we monitor to give us a picture of current trends are negative, with most of our models predicting another downward move in the market for the foreseeable future.
As I always like to point out when bringing negative news, I am entirely bullish on the long term of Tallahassee real estate. We are (and will be) trading below cost in the housing market, due to … (5 comments)
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housing report: Translating The NAR Spin On Existing-Home Sales - 08/25/10 08:54 AM
I just love the 25th of the month. I wake up every 25th of the month, grab a cup of coffee, then look to see what the National Association Of REALTORS® has to report on existing-home sales across the US housing markets.
Lately, meaning over the past few years, it has been an interesting game of “spin the numbers.” How can we make bad news look as good as possible. The Existing-Home Sales Report has again been spun by NAR for July, but the stock market wasn’t buying it. The US housing market is in grave danger.
July Existing-Home Sales Fall … (0 comments)
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housing report: NAR Spin On Existing Home Sales Report Damages REALTOR Image - 05/25/10 07:25 AM
Every month on the 25th, the National Association of REALTORS® releases the Existing Home Sales Report which includes single family detached homes, condominiums, townhouses and co-ops. Of all the real estate reports that the NAR produces, this one best identifies the strength and direction of the national housing market.
The April Existing Home Sales Report was positive, showing a 7.6% increase over April of the previous year. Lawrence Yun, NAR chief economist, said the gain was widely anticipated.
“The upswing in April existing-home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback … (6 comments)
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housing report: Components Of A Comprehensive Housing Report - 05/12/10 08:25 AM
Whether you own a home or lease home, want to sell a home or buy a home, the most important thing that you can do is to educate yourself on what is going in the current real estate market. A comprehensive housing report for your local area is more critical today than it has ever been in the past.
There are changes coming that can be clearly seen if you are looking at the correct information. Housing markets do not move so quickly, so recognizing change trends might be easier than doing the same type of analysis in the stock … (4 comments)
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housing report: Home Sales Heat Up In Tallahassee - 04/05/10 04:24 PM
By tracking closings in the Tallahassee MLS on a daily basis, we can normally spot trends just as they are beginning to happen.
When we look at the graph above, we can see a recent spike in the number of daily closed home sales in Leon County. There is much speculation that the Homebuyer Tax Credit is helping boost sales, and we will have to see what happens when that opportunity goes away (buyers must be under contract no later than April 30, 2010 and closed no later than June 30, 2010 in order to qualify for the credit).
What … (0 comments)
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housing report: Closed Home Sales On The Rise - 03/23/10 07:45 AM
Closed home sales continue to rise in the Tallahassee real estate market, continuing belief that the market bottom was reached on August 18, 2009. Of course, just because unit sales are rising now does not mean that property prices are rising. In fact, the opposite is true. Home prices continue to decline, thus enticing new buyers to come forward and take advantage of the great buys in Tallahassee housing.
Closed Home Sales Keep Rising When we view recent closed home sales in Tallahassee (above), we get a much clearer picture of the market bottoming out in August of last … (0 comments)
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housing report: Daily Housing Reports Without The Normal "Spin" - 02/16/10 06:05 AM
Every month, we see new housing reports that are issued first by the National Association of REALTORS®, then by the Florida Association of REALTORS®, and finally by any local REALTORS® who actually pay attention to market reporting.
The one thing all of these seem to have in common is a consistent “spin.” Somebody at the National Association of REALTORS® determines the best light in which to report the data, then we see a parroting affect all the way down the food chain until somebody locally can announce “now is the time to buy!”
Three years ago, I was one of those … (10 comments)
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housing report: Why Housing Reports Often Differ - 02/02/10 05:28 AM
How often do we see reports about the housing market that seem to show that things are improving, only to find another report that seems to completely contradict the first? And how about when two reports “hit the headlines” at the same time, and seem to be covering the exact same issue, yet conclude with different findings?
The key to understanding what appears to be contradictory housing reports is to first study the source of the report, and then the source of the information from which the report was based.
Often times, there might be a bias that one reporter … (10 comments)
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housing report: Pay Attention To Your Local REALTOR® Reports - 01/26/10 06:10 AM
The 25th of each month is the day when we get to see the latest existing-home sales report that is published by the National Association of REALTORS®, so it is a day marked on my calendar for monthly action.
I always look forward to both reading the report as well as reading and hearing the interpretation and forecasts that are derived as a result of others reading the report.
Yesterday was no exception. While celebrating the birthday of my “way to good for me” wife with our children at a local restaurant, we bumped into a family friend who happens … (35 comments)
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housing report: Tallahassee REALTOR Assembles "Mother Of All Housing Reports" - 01/18/10 08:07 AM
I have put together the “mother of all housing reports” in an effort to show our readers what is available on a regular basis at the Tallahassee Housing Reports page on our new web site. This does not even include all of the charts and graphs that we provide about foreclosures (on the Tallahassee Foreclosures page), nor does it include all of the chart and graphs that we provide about Tallahassee neighborhoods.
FYI: You can subscribe to the Tallahassee Real Estate Blog and have it delivered to your email box each time it is published. Just click on the button in … (4 comments)
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housing report: After 40 Months, Growth Returns To Housing Market - 11/10/09 06:45 AM
Something positive occurred in the Tallahassee real estate market during the month of October. It was long awaited, yet one month prior to my prediction made earlier this year, so I am very excited to report REAL PROOF of a housing market improvement in Tallahassee.
We finally put a halt to a run of year over year declines in home sales! Previously, the Tallahassee housing market experienced a 39 month run, from July 2006 through September 2009, of year over year home sales declines! October records show more home sales this year than October of last year (242 total home sales … (12 comments)
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