The National Association of Realtors says January existing home sales have slipped due to possible home buyers sitting on the sidelines. NAR experts say some home buyers are waiting for access to higher loan limits. Despite the decrease, Tallahassee Board of Realtors say January numbers in the local market are higher than before the housing boom.
Steven Louchheim with the Tallahassee Board of Realtors says, "Our boom started in 2003, from 2002 to 2003 we had a 30% increase in sales for January, so we're back to just a little bit over 2002 numbers before the boom."
The Florida Association of Realtors says last month, over six thousand existing homes were sold state-wide, compared to over nine thousand in January of 2007.
Although that is a dramatic drop, the Tallahassee Board of Realtors say our local area will most likely not see the "low lows" like other markets.