With all the talk and commentary that the Tallahassee Real Estate Blog has focused on housing inventory, you would think that we would have dedicated quite a few articles on new construction in the Tallahassee real estate market. But the fact is, we have always included our permits and sales charts in our Monthly real estate market reports.

So, why do I bring this up now? Because we have seen the average monthly single family permit activity drop to a level lower than at any time since I have been tracking it. This is absolutely terrible news for the new home construction industry (and all the people who work in or on the fringe of that industry), but it is also what the housing market needs to return to a normal balance of supply and demand. The real estate graphs below demonstrate the extreme turn that the new home construction market has taken in Tallahassee.

Color Charts Show Staggering Reduction In New Home Industry In Tallahassee