by Calculated Risk on 7/15/2021 01:31:00 PM

Note: I'm tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.

From SacRealtor.org: Sacramento County median sales price reaches $520,000

June closed ended with 1,723 sales, an 11.9% increase from May (1,540). Compared to one year ago (1,506), the current figure is up 14.4%..
...
The Active Listing Inventory increased 2.4% from May to June, from 1,267 units to 1,297 units. Compared with June 2020 (1,495), inventory is down 13.2%.

The Months of Inventory remained at .8 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.
emphasis added

Note that inventory in June was up 2.4% from last month, and up 76% from the record low in January 2021.