More Houses for Sale

For the first time since August of last year we have seen a week when more houses have come on the market than were sold or taken off. HousingTracker reported a one week gain in Sacramento inventory of 247 homes to a total of 12,465 as of January 15. Over at Bubble Market Inventory Tracking, where they monitor Sacramento, Placer, El Dorado and Yolo Counties, the inventory was reported at 12,150 as of January 14 which is an increase of 528 from the start of the year.

Last week I said, “My current thinking is we will see inventory continue to decline but as we move into late February and March it will slow and may even begin to build by the end of the quarter.” Those folks who removed their houses from the market during the holidays have come back faster than I anticipated.