Consumer Confidence Down and Inventory Holding Steady

The Consumer Confidence Index was down for August as more Americans expect business conditions and job supply to get worse. The decline was the largest one-month decline in confidence since Hurricane Katrina. See the full story here.

The good news is that inventory of homes for sale is has not been increasing. Although up from the beginning of August there have been modest declines in the past two weeks as reported at HousingTracker where the inventory for Sacramento is shown to be 12,160 compared to 12,168 a week ago and 12,180 on August 14.

This week continues to be pretty slow with the holiday weekend rapidly approaching but as we reach next week the lazy days of summer will rapidly fade as we move closer to fall. I am anticipating seeing more buyers in the market and increased sales during September.