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Homes Sales Report – Sacramento – August 2009
Pace of Home Sales Slows
The number of existing home sales in Sacramento declined in August to it’s lowest level of the year. This is due to dramatic reductions in the number of homes available for sale and the time of year.
New home builders throughout the region, for instance, have been hammering out emails with quick move-in specials and increased commissions for agents to sell their homes since mid-July as sales are typically slow during this time of year.
Vacation months can be slow for home sales.
Click here to search for homes in any area of Sacramento or Placer County.
I wouldn’t be surprised to see and increase in volume by the end of September. That said, without a significant increase in homes to sell, we may not see an increase.
The second slowest month of sales was February with 956, January with 962. The rest of the year, sales numbers have exceeded 1000 homes sold per month in Sacramento.
Average Sales Price Increases In Sacramento Real Estate
Warren Buffett and Sacramento Real Estate
An article I read today from the New York Times written by Warren Buffett gave wisdom that can be directly related to the mindset needed to be successful in the Sacramento real estate market or any investment scenario. There is a lot of fear out there right now about not only real estate but the economy, personal finances and shadows moving in the night.
There is fear of fear itself. If I remember the quote correctly, the only thing to fear is fear itself.
On this point, Mr. Buffet wrote;
“A simple rule dictates my buying: be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors.”
Warren Buffet
My guess from this statement is that it’s time to be greedy.
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