Inventory going up...again!

I got an email yesterday from a reader asking if I was ignoring the available housing inventory since I had predicted it wouldn’t start rising until late February or early March. I have been watching it closely and although we are still below where we were as of the first of the year the number of homes now on the market, according to my friends over at HousingTracker, has been going up the past few weeks. We started the year with 13,199 homes on the market in the Sacramento area and hit a low the following week of 12,218. Since then it has increased by 464 to 12,785 on January 29. This is still a decrease of over 3 percent from January 1st but for the past week we saw it grow 1.09 percent or by 138 new homes on the market. I can always count on hearing about my off predictions!

For the agents I have been talking to, showing activity remains strong and this morning I met with Brad L’Engle of Comstock Mortgage and he has had more activity this month than he normally sees in January and is feeling pretty good about the outlook for 2007. If you are looking for a lender or just some great tools and resources about mortgages take a look at bradlengle.com.