Monday, July 30, 2007

Sacramento Regional Real Estate Trends for July 28, 2007

Sever access has been restored! Thank you all for waiting so (not) patiently. :)

Since inventory is on everybody's mind, let's start there:


I'm showing barely an increase over last week. I know this puts me at odds with HousingTracker, but Ben seems to be running a little hot this year (like I was last year). One possibility for the difference could be as simple as a slightly different sample area. Since he doesn't provide exact geographic details, we can't say for sure.

As for the inventory top, I am still unwilling to make the call for another two or three weeks yet. I think the recovery (if any) after the July end-of-the-month expiration drop-off will tell the tale. I am looking for early signs of the REO inventory entering the market. So far, the banks continue to hold on. We all know they can't do that forever...






5 comments :

Sittin' Out This One said...

Max, sorry to lampoon you to the Gwynster. It was all in fun. I find it hard to believe the lenders are "holding on". I don't think they have the capacity to turn it around fast enough to get it all on the market. If you look at Agent Bubble's post on Sacramento Gwyn(ding), I believe he says there have been 2974 REO's added to the MLS since Jan. 1. According to KFBK and RealtyTrac, there have been 3600 Foreclosures since the first of the year. That means only 500 are unaccounted.

If you are seeing REO's held back, how are you seeing them?

Sippn said...

Sittn, remember Realty Trac has a little problem with duplication? - the lower number might be right.

Max considering how slow the market "felt" in July I'm surprized the inventory was able to stay that flat. I don't have sales of new listing data, but thats how it seemed.

Sippn said...

Just found out more on Realty Trac - in OC Registers's Mortgage blog - that RT counts multiple foreclosures on the same property (1st and 2nd).

Hey folks, the chip in the box doesn't do all the thinking.

smf said...

"Max considering how slow the market "felt" in July I'm surprized the inventory was able to stay that flat. I don't have sales of new listing data, but thats how it seemed."

Since I only really keep up with a few zip codes, I can certainly agree with you there.

Do we have a breakdown of expired and new listings to get a little further data.?

AgentBubble said...

Do we have a breakdown of expired and new listings to get a little further data.?

Per MLS,

3,242 listings went inactive/expired in July

5,403 listings were entered in July

I'll post preliminary July sales data sometime tomorrow....

This data covers the 4 surrounding counties.