When looking at the statistics for the Sacramento housing market in February of 2019, it is hard to find silver linings, which is what most brokerages try to do. They look for strong signs and focus on those. Which makes me think everybody will be talking about the pending sale numbers, but I laugh at that. I see how many buyers flake in escrow and the number of sales that fall apart.
Overall, we have more inventory than last year, sales are down, and I don't believe the vast majority of those sales in escrow will close. For example, in January, our pending sales were up by 35%. However the closed sales for February were up only 7.9% over January. True, we have fewer days in February but not everybody went into escrow at the end of January.
You can read more in my personal blog and see the days on market chart at this link: Sacramento Housing Report for February 2019.
Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.
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