How To Determine Changes In Real Estate Demand

Have you ever seen something that is so extreme that you think to yourself that you are truly witnessing something remarkable? No, I don’t mean have you seen UFOs flying over the back of your home or Big Foot running through the neighborhood, rather I’m talking about certain market conditions that defy all historic norms and trends.

Below is a real estate graph depicting the 365 day trend of daily home sales in Tallahassee going back to 1991. What this means is that each point on the graph represents one full year of sales (divided by 365 days) to generate a non-seasonal daily average.

Daily Home Sales In Tallahassee Continue To Decline

What this graph shows is that just since December, our daily sales rate has dropped 25%! Ouch. But what if we look at a longer-term view of this same information. What if we graph daily sales all the way back to 1991?

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