Real Estate Investment :Sacramento Real Estate Statistics for July 2010

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As you can see by the graph below, 1,262 homes sold in July with 2,321 homes receiving offers. Inventory has steadily climbed since November leaving Sacramento with 5,085 homes for sale.
Overall, inventory is up 7.4% over last month with solds down 30.4%. Not a good picture for real estate. With the current inventory based on the sold properties, Sacramento has 24.8 months worth of inventory left to sell.

To break this down further, there were 1,059 bank owned REO Foreclosed homes for sale with 480 sold. Inventory was up from the previous month by 6.6%.
And Short Sale inventory was up 12.2% with 1705 homes for sale with 302 homes sold down by the previous month by 38.1%. The good news is that there were 1,001 homes receiving offers, placing them into the Pending Sale status. 

There were 2,321 Traditional homes for sale (not bank owned and not short sale) in July up from the previous month of June by 4.3% however, 481 homes sold bringing the tradition homes sold down by 29.7% from last month.

It would appear that home buyers have certainly declined and one of those contributing factors would be the elimination of the home buyer tax credit that the Federal Government offered.

What is surprising is the with interest rates at an all time low and interest rates where we will never see them in our life time again, home buyers are not jumping at the chance. I sure hope, those with equity have refinanced since it is an opportune time to refinance.

If you would like to view homes for sale, be sure to check out Sacramento Real Estate Neighborhoods and simply sign-in with your email address to receive the latest homes for sale each morning.  Then, give me a call and let’s get started finding you just the right home.

© gena for Sacramento Real Estate and Luxury Homes, 2010. |
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