Sacramento Real Estate Views

Sacramento Region Homes for Sale – April

Inventory Increases

The total number of homes for sale in the Sacramento region including El Dorado and Placer counties increased 3.5% in April over March.  This spike in homes for sale is normal for the time of year when more homes typically come on the market.  If history tells us anything, the total number of homes for sale should increase or hold steady over the next few months.

The number of homes for sale in Placer County increased 8.9% in April over March.  While a more significant increase, this is normal for the time of year.  Call it a “seasonal” increase.  Additionally, loans at the higher price points have been a bit more difficult to obtain thus it’s taking a little longer to get those homes sold than it used to.

This increase breaks the 3 month decline in the number of homes for sale in Sacramento County.  Depending on what the banks do with the “shadow inventory” (homes available for sale but not on the market) inventory levels may stay reasonably stable.

Foreclosures will come on the market as long as the economy continues to struggle and jobs evaporate from the area.  Additionally, there are  Alt A loans out there that will reset but the level of foreclosures should begin to decline this year as the economy improves and the cycle runs its course.  Currently our unemployment rate is roughly 11%.

Too optimistic?  We can use a little optimism, can’t we?

Indications of Recovery?

A New York Times article this week said that the Sacramento market was showing signs of a recovery due inventory levels dropping and sales increasing.  Sales are up 45% over last year and all the indicators point to the  possibility that our market has bottomed out or at a minimum, this is what it looks like when it does begin to bottom out.

This may be what the bottom looks like but I’m not ready to say that we’re there.  I don’t know anyone with any sense saying that the Sacramento market has hit bottom.  This article doesn’t suggest that either but it will give some the confidence that purchasing in the Sacramento market is a good, long term decision going forward.

We still have more foreclosures to come, how many, no one knows.  When they will come, no one knows.  Most across the board feel that the worst is behind us in the Sacramento real estate market and that purchasing now carries a much lower risk than in the last 3 years.  The values are there, first time home buyers can purchase for less than they can rent and there seems to be light at the end of the tunnel.

I agree.  There does seem to be some light at the end of the tunnel.  I just hope the road at the end of the tunnel hasn’t washed into the sea!  All joking aside, if we lose much more in values, it seems as if it will be negligible.

If you’re in the position to buy now either as a primary residence or investment, my opinion is that it’s a good time and will be a good time in the Sacramento region for the foreseeable future.

If you need representation to help you get into a home, please call us.  Buying or selling, either way, we can help you get it done.

Thanks for visiting!

Related posts:

1. Number Of Homes for Sale Increases
2. QUICK STATS – Sacramento County Homes for Sale

Tags: homes for sale in citrus heights, homes for sale in rocklin, homes for sale in roseville, homes for sale in sacramento

This entry was posted on Friday, May 8th, 2009 at 6:15 am and is filed under Home Sales Reports, Local Real Estate Info, Sacramento. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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