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Volume XXVI, Number XLVIII | November 5, 2026
If you've heard that a housing market needs six months of homes for sale to be in balance, you've heard a rule of thumb older than the internet.
It comes from a time when it took 30 to 60 days for a new listing to reach every place buyers looked. Today, about 95 out of every 100 ready buyers know about a well-marketed home within four days.
Even the top economist at the National Association of Realtors said in July 2024 that 4.1 months of homes for sale was "nearing a balanced market condition."
At the end of October, Leon County had enough homes listed to last 5.3 months at last year's sales pace. That's the most since 2016.
So is this a buyer's market? I've reported on this market for 35 years, and I think the line sits lower than most people understand. Why that matters for your next price or offer comes right after a quick word from today's sponsor.
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With more homes to choose from, buyers can pass on any home priced for last year's market. If you're selling, the first price matters more than it has in years. If you're buying, you have more room to negotiate.
I'm working this weekend on a report that shows exactly what type of market we're in today and what it means for your next move. You'll have it Monday morning.
This isn't 2021, when buyers stood in line for homes. It isn't 2009, when sellers were handing their homes back to the bank. So what would your home sell for with 5.3 months of supply today? Enter your address, and I'll show you.
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Data updated Nov 4, 2026. Sources: Leon County Property Appraiser and the Tallahassee MLS.
Until later,
Joe Manausa MBA
Joe Manausa Team at Xcellence Realty
P.S. Oh, by the way, mortgage rates are close to their long-run average, but the monthly payment on the same home is another story. See Why the Payment Still Hurts