More on Inventory

One of the critical components of the current slowdown in our Sacramento real estate market is the high level of inventory. For most of the past year the number of homes coming on to the market has significantly surpassed those sold leading to an inventory level that has been about three times what it was just 18 months ago.

The latest numbers from HousingTracker indicate that we are starting to see a steady decline in the level of inventory. Their report on Sacramento includes some surrounding cities but is a good barometer of the overall market. From a high of 12,180 homes in mid-August we have come down to 11,449 as of October 1. From September 1 this is a decline of 4.8 percent in available homes.

We have a long way to go to even get back to a balanced market between buyers and sellers but it is heading in the right direction.

This has been a busy week for us; we have hired an experienced real estate administrator to help with customer service, transaction coordination and general support. Over the next week or two I will be introducing my concept of working with others to provide enhanced customer service and support. In addition, I am headed to a document signing today for my longest running clients. I have been working with Joe and Erin for almost three years, looking for the perfect home. They have become more than clients and I am almost as excited as they are to see them finally move out of their “too small” apartment into a beautiful home.