Note: The Sacramento Association of REALTORS® started breaking out REOs in May 2008, and short sales in June 2009.
In November, total sales were down 2.6% from November 2016, and conventional equity sales were up 1.7% compared to the same month last year.
In November, 2.3% of all resales were distressed sales. This was up from 1.4% last month, and down from 5.0% in November 2016.
Sacramento Realtor Press Release: October marks highest median sales price in 10.5 years
October ended with a 3.2% decrease in sales, down from 1,560inSeptemberto 1,510. Compared with the 1,584 sales of October 2016, the current number is a 4.7% decrease. Equity sales for the month continued to grow, accounting for 98.5% (1,510) of the sales this month. REO/bank-owned and Short Sales made up the difference with 11 sales (.7%) and 11 sales (.7%) for the month, respectively.Here are the statistics.
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Active Listing Inventory decreased slightly, decreasing 3.4% from 2,625 to 2,536.The Months of Inventory remained at 1.7 Months. A year ago the Months of inventory was 1.6 and Active Listing Inventory stood at 2,492 listings(-1.8% from current figure).
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Click on graph for larger image.
This graph shows the percent of REO sales, short sales and conventional sales.
There has been a sharp increase in conventional (equity) sales that started in 2012 (blue) as the percentage of distressed sales declined sharply.
Active Listing Inventory for single family homes increased 8.3% year-over-year (YoY) in November. This is the second consecutive month with a YoY inventory increase, following 29 consecutive months with a YoY decrease in inventory in Sacramento.
Cash buyers accounted for 12.9% of all sales - this has been generally declining (frequently investors).
Summary: This data suggests a normal market with few distressed sales, and less investor buying - but with limited inventory. Keep an eye on inventory - this might be a change in trend.
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