Buyers Hope Housing Market Is Changing

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The Parade of Homes features several of Tallahassee's newest homes, and each year hundreds of curious home buyers check out these featured homes, getting information and ideas.

"When they have something like this, it makes it a lot easier for someone new to this area to try to figure out where to go, and they navigate things for you," says Roger Thomas, a potential home buyer.

But this year the feds increased the interest rate by a quarter of a point on the Wednesday before the parade of homes.

"I think what we're seeing is some reality coming into the market, because you have new homes and you have re-sales. Re-sales is really where you saw this huge appreciation in the last few years, and I think really what we're seeing is a nice steadying of the market," explains David Wamsley, the CEO of K2 Urbancorp.

Many of the buyers say they hope it's becoming a buyer’s market in the real estate industry, especially after it's been such a strong seller’s market for the past few years.

"If it becomes more of a buyer’s market, a lot of these homes are not going to sale, so we are going to be able to buy them at a better price because the market right now is flooded with homes and people got so many choices," says Jennett Baker, another potential home buyer.

Regardless of the effects of the interest rate hikes, it appears that lots of folks are still touring the Parade of Homes.

The Tallahassee Parade of Homes will continue again next weekend on May 20 and 21.