Sunday, May 27, 2007

Sacramento Regional Real Estate Trends for May 27, 2007

Got a lot going on this weekend, so just the graphs. Inventory is up to 16,628! Looks like a record in July...







4 comments :

Real said...

Max - what is the % increase YoY. From 'eyeballing' your graph, it looks to be 10-11% YoY increase. Obviously my theory of flattening inventory would predict levels down from the 19% YoY increases seen earlier....

Patrick Hake said...

Huh, looks like the trends are continuing. I have noticed that some of the better areas of town that are land locked and that have very little in the way of new development are doing better. I just ran the numbers for Folsom on my site and sales are up year over year and quarter over quarter. Prices are down compared to 2006, especially price per square foot, but they are all up quarter over quarter. The inventory stands at 4.65 months, which is great when compared to other areas. Could Folom have hit bottom for now?

Real said...

Patrick - if you ever read my comments on this blog before, I have been arguing for the 'better areas already recovering' for a few months now. It is the logical way for the market to recover. The pain with be in Natomas and Elk Grove - nice areas are already increasing in price.

Patrick Hake said...

I have to admit I have been following the stats from this site for awhile, but I have not been following the comments. I am sure I am not the first to notice these trends. It sounds like you were ahead of the curve. I do wonder if the drag of the overbuilt areas will pull down the desirable areas at some point, or if everyone will choose to run to higher ground. I guess only time will tell.