Memorial Day Impact?

During the week ending May 28th HousingTracker reported homes for sale only increased 190 in their definition of Sacramento. For those you who have been reading my Blog, you know this is a site I check to monitor the rapid growth of inventory we have on the market.

The question today is if we are finally starting to see a slow down in inventory growth or was it the looming holiday weekend that slowed down homes coming on the market? In the past few weeks we have seen increases of 421 and 475 so an increase of 190 is a significant reduction in the growth rate. Since the beginning of the month HousingTracker has shown an increase in inventory 1,249 to a total of 10,163 homes available for sale. This is inventory growth of 14 percent and the month is not over yet.

I will report that the Memorial Day weekend is not a busy real estate time. I held open houses on Saturday and Sunday and got a fair amount of reading done. The month is almost over and we should be seeing some May activity reports soon. I am going to predict the level of sales will have increased from April and median sales price will be up slightly in most communities. Compared to last year we will obviously see lower activity and mixed results for median sales price.

Have a great Memorial Day and remember our troops and those who have given the ultimate sacrifice for our great country.