Sunday, August 20, 2006

Sacramento Area House Listings Inventory For August 19, 2006

Inventory levels decreased slightly w-o-w for the first time since January in the Sacramento region, with 1% and 2% decreases in Placer and Yolo counties, and no change in El Dorado and Sacramento:

Regional inventory dropped by 48 to 18,849, which was still far higher than the population adjusted record of 17,913. While only three weeks long, this trend is highly suggestive of a market top, and we could be seeing an early end to the summer selling season in Sacramento. Not surprising, considering the relatively few number of pending sales in Sacramento County:

Market activity picked up only slightly over last week, with pendings up 1% from a low of 6.3% at the end of last month. Combined with a 5% drop in median house prices and a record low number of total sales, this does not paint a pretty picture of market conditions here in Sacramento.

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