Good News Sacramento

Get this, now is the time when inventory of homes on the market traditionally increases and should continue to so as we move into summer but inventory is remarkably stable right now. Even with the large numbers of foreclosures in the Sacramento area during the first quarter we are seeing inventory staying right around 15,000 and even edged down last week. We still have more “For Sale” homes than wanted to achieve a balanced market but the fact that it is not increasing rapidly as it has in the past two years is very good news. For sellers the icing on this cake is, believe it or not, according to our friends at HousingTracker the median asking price has actually increased in the past week. For the week ending yesterday, the median asking price was $307,000 up $2,000 from the previous week.