Not a great May

The Sacramento Bee had their monthly synopsis of the local real estate market in the business section this morning. Jim Wasserman’s article, “Home sales seek bottom” was not one of his most succinct efforts. I had to go back a read it a couple of time to make much sense. I think he was trying to cover too much in too large an area.

Overall the May results we generally not very positive unless you live in Yolo County where the median price was up 2.1 percent from last year. In the other seven counties reported on, including Sacramento and Placer the median prices continued their year over year decline. The most positive news for May that sales of existing homes was up, as expected, from April in all except El Dorado County.

One of the more brilliant quotes in the article included, Anthony Graham, from my own brokerage, Lyon Real Estate, who said, “I think we’re really starting to see a little more hesitance on the part of the seller to put their home on the market.” Really, Anthony, do you think so?