More For Sale Signs

The number of homes for sale in the Sacramento area continues to swell as we move deeper into the traditional spring selling season. According to HousingTracker, in the past week ending April 16, there was a growth of 413 in the available inventory of homes for sale. This is the largest weekly increase in the past few months. During the past month the inventory has grown 10.8 percent and stands at 15,262 homes and condos for sale. This is an increase of 23.4 percent from a year ago when we were on our way to record levels of inventory during August 2006.

The Sacramento-Arden-Arcade-Roseville Metropolitan Statistical Area approximation has 18,477 total listings of which 15,262 are either Single Family or Condo homes. The area includes the major cities of Auburn, Carmichael, Citrus Heights, Davis, Elk Grove, Rancho Cordova, Roseville, Sacramento, South Lake Tahoe, West Sacramento and many others.

In other news foreclosures are also growing. This morning in the Sacramento Bee’s business section was a full report on the growing number of foreclosure notices sent to area homeowners during the first quarter. See the full story, “Foreclosures in full bloom” for details.