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Archive for November, 2009

Fast Friday Snapshot of Sacramento Real Estate

Week of November 20, 2008

This is the first of a weekly market snapshot for Sacramento Real Estate.  In the coming weeks I hope to bring you the fast facts driving the Sacramento Real Estate Market by bringing you the market statistics in an easy to understand format.

Distressed properties are still the driving force in our market and I expect them to be for the next several years. Currently the Sacramento Housing market remains  very active at all price points up to 350K.  Above 350K is certainly moving as Buyers at this price point and above are snatching up some tremendous bargains on distressed properties. We have an 2.0 month supply of homes in the marketplace. A stable real estate market is considered to be a 6-7 month supply. For the last several months Buyers have struggled with the fact that there are multiple offer situations on available properties. Our current market is short of inventory, I do not expect this to change since the number of foreclosures continues to be slowed down by the various government and bank programs. Affordability is certainly back in our marketplace, it is anybody’s guess where the market will go from here. Unemployment will be the driving force in the economic recovery.

California Unemployment Rate :  12.5 % (  Ten Year High )

30 Year Mortgages Rate: 4.875 %

	1 month			1 year			15 months
	Sep 09	Oct 09	% Change	Oct 08	Oct 09	% Change	Aug 08	Oct 09	% Change
For Sale	3243	3325	2.5%	8038	3325	-58.6%	8280	3325	-59.8%
Sold	1642	1634	-0.5%	2154	1634	-24.1%	1949	1634	-16.2%
Pended	2286	2395	4.8%	2236	2395	7.1%	2244	2395	6.7%