Sunday, December 16, 2007

Sacramento Regional Real Estate Trends for December 15, 2007

Too much Christmas stuff to do today, so the commentary will be rather light. Looks like inventory isn't dropping as rapidly as it did last year at this time. Also of note, the average price/sqft for Sacramento is now $199, falling below $200 for the first time in several years. Lastly, the SIT metrics continue to deteriorate, even in the face of end-of-the-year inventory reductions. According to some rumors, banks are beginning to discount recent REOs heavily in an effort to get ahead of the market. Watch this space for further developments.

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