Appraiser, housing market analyst, graph maker, blogger, speaker, woodworker wannabe, and family man.
Sacramento, CA
Joined October 2009
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Here’s a look at active listings compared to sales in the city of West Sacramento. This is what most areas around the region look like from 1999 onward.
Many people talk about higher prices driving the housing market right now, but that’s not the story we see when looking at the stats. We’ve seen the most growth under the median sales price. Yet, most price points have grown compared to one year ago.
Some friends got me this for my 50th birthday, and I couldn’t be happier. Print from a local artist named Nate Reifke.
Let’s zoom in for a closer view. 2.5 months of supply is still minimal, but I think the market gets frothy in Sacramento County at this level. People talk about five months being normal, but that’s not true in this county.
This is why prices haven’t crashed. Supply has not built like it did during the Great Financial Crisis. We can’t expect 2007 results with 2026 stats. At the same time, supply has been building lately, and let’s not ignore some growth.
Lots of people say it’s all cash driving the market, but that really isn’t the case. Here’s a look at financing and cash purchases through the years in the Sacramento region.
Price discovery, demand destruction, and homes that are getting into contract. Yes, there are still buyers out there. Enjoy my weekly blog if you wish. Scroll by topic or digest slowly. I hope this is helpful. Any thoughts?
sacramentoappraisalblog.com/…
A new website launched recently. I'm not sure who is behind it, but the site pretends to advertise Dorothea Puente's boarding house in Sacramento (and it sells merch). If you didn't know, this lady is believed to have killed nine people.
dorotheapuente.com/
Back to work tomorrow. For now, a snippet from a text message with a listing agent today. “I think right now it’s about price discovery, and sellers are having to lower the price to find out what the market is willing to pay.”
Some NYC clips in case you wanted to see. Such a good time. And I’m tired. I’ll be back to work in a few days.
I’ll be taking a break over the next week. No stats. No blog posts this week or next. Adventure awaits, and I need to unplug and recharge. Looking forward to connecting upon my return.
New construction has been taking a beating locally. Check out volume this year compared to previous years. Each bar represents July, August, and September combined. Builders are going to be offering more concessions, and they may have to lower prices.
