Monday, December 16, 2019

Sacramento Housing in November: Sales Down 4.8% YoY, Active Inventory down 33.6% YoY

by Calculated Risk on 12/16/2019 12:07:00 PM

From SacRealtor.org: Sales, inventory drop for November

November closed with a 19.4% decrease in sales volume, dropping from 1,540 in October to 1,242 units this month. Compared to one year ago (1,304), the current figure is down 4.8%.
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The Active Listing Inventory decreased from 2,301 to 1,803 units. The Months of Inventory remained at 1.5 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory. [Note: Compared to November 2018, inventory is down 33.6%] .
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The Median DOM (days on market) increased from 14 to 15 and the Average DOM increased from 28 to 29. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.” Of the 1,242 sales this month, 68.2% (847) were on the market for 30 days or less and 86.1% (1,069) were on the market for 60 days or less.
emphasis added
1) Overall sales decreased to 1,242 in November, down from 1,304 in November 2018. Sales were down 19.4% from October 2019 (previous month), and down 4.8% from November 2018.

2) Active inventory was at 1,803, down from 2,714 in November 2018. That is down 33.6% year-over-year.  This is the seventh consecutive month with a YoY decline following 20 months of YoY increases in inventory.