Our Brisk Real Estate Turnover: Sacramento’s new “Bank-Owned Sellers Market”- Will it Continue?
September 19th, 2008 Categories: Mortgage and Loans, Real Estate News, Real Estate Trends, Sacramento Home Buyers, Sacramento Real Estate
What a difference we have seen in our market compared to last summer… multiple offers, over-priced offers, market stability and finally some predictability; Can it continue with all the bad news?
For the first time in fifteen months, our Sacramento, Placer and El Dorado County Median prices held mostly stable month-to-month.
And instead of a years worth of unsold inventory sitting on the market; there is less than 4 months!
Can it continue? I guess we’ll see… This time of year usually sees swelling inventories anyway and with the mess that the stock market is in…. They are calling it the “Worst Crisis Since ’30s, With No End Yet In Sight.”
I really think our under 200k market has found a price level that will hold, unless, of course, rates start moving. However; those jumbo-homes still have a long way to go. You know what they say; the bigger they are the harder they fall…
