Not very surprised over the numbers on the Sacramento Housing Report for January, not even when I spotted the dip in our median home prices. The median price is the middle point between higher and lower numbers. It is indicative, in part, of the way we measure rising or falling markets.
I have definitely felt the slowdown in my practice, rolling downhill from last spring.
In the month of January in Sacramento, our inventory jumped by 25% over last year at this time. Also, sales fell 25%. Increasing inventory and falling sales results in lower median home prices.
California usually leads the nation, and I expect we will see a trickle down wave across the country. You can read more and see all the graphs from Trendgraphix, exclusive to Lyon Real Estate, in my personal blog today at this link: Median Home Prices Drop in Sacramento.
Certified HAFA Specialist
Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.