Sunday, October 02, 2005
Now that summer is over, I thought I'd post some housing inventory data I've been gathering. The Sacramento Bee is kind enough to give access to MLS records through their web site (click for a larger image): this article, prices in Sacramento in August continue to show year-over-year increases, although monthly appreciation has moderated. There were 3806 resale home transactions that month, while MLS inventory increased by 1071. That means that 20% of all newly listed homes didn't sell. Inventory seems to be leveling off near it's peak, but this could just be the usual end-of-the-month dropoff. It will be interesting to see what happens with inventory this Fall. Traditionally, Fall is a slow period for real-estate. If inventory continues to build, we could be looking at price corrections at some point.
Posted by Max at 4:23 PM