Monday, July 20, 2020

Sacramento Housing in June: Sales decline 1% YoY, Active Inventory down 37% YoY

by Calculated Risk on 7/20/2020 12:20:00 PM

Note that June sales are for contracts typically signed in April and May..

From SacRealtor.org: June 2020 Statistics – Sacramento Housing Market – Single Family Homes

June sales rebounded with 1,506 sales for the month, up 45.9% from the 1,032 sales in May. Compared to one year ago (1,527), the current figure is down 1.4%.
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The Active Listing Inventory decreased 15.8% from May to June, from 1,775 units to 1,495 units. Compared with June 2019 (2,362), inventory is down 36.7%. The Months of Inventory decreased from 1.7 Months to 1 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.
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The Median DOM (days on market) increased from 9 to 10 and the Average DOM decreased from 19 to 23. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.”
emphasis added
1) Overall sales decreased to 1,506 in June, down 1.4% from 1,527 in June 2019. Sales were up 45.9% from May 2020 (previous month).

2) Active inventory was at 1,495 down from 2,362 in June 2019. That is down 36.7% year-over-year.  This is the fourteenth consecutive month with a YoY decline in inventory.