“I don’t understand why people are buying homes in today’s market.”
1) It’s lifestyle for the win. People’s lives and finances are lining up with market conditions.
2) Just because you wouldn’t buy doesn’t mean other people feel the same way.
Enjoy the big game today, and then let’s watch the housing market heat up after the Super Bowl. Statistically, we see buyers and sellers start to hit their spring stride in mid-February and beyond.
It's not 2021. And it's not 2007. Stats today look very close to the pre-2020 norm in the Sacramento region. This doesn't mean the market is normal, but competition levels feel that way.
Thanks Joe. Had such a good time. Thank you for being there. I was blown away at how many people showed up also. Feeling very loved.
How much did prices change? Here’s the annual median price in 10 counties in the region. Modest change. I think that’s a good way to put it. Keep in mind the median price doesn’t perfectly represent price change for every individual home. My advice? Look to the comps.
Just in case you woke up wanting to see some annual volume graphs in the Sacramento area. This is how so many neighborhoods look. A little better than one year ago, but just low.
Exactly.
FHA used to be such a dominant portion of the market. I think conventional has simply become so much more competitive as a loan over the years. It almost looks like the decrease in FHA was absorbed directly into the amount of conventional growth.
I may push some stuff out eventually. I’m definitely going to have financed versus just cash. We always want to consider how stats can be different when looking at a percentage versus actual numbers.
The story of buyers. Financing and cash in home purchases since 2009 in the Sacramento region. What stands out to you?
What's hitting the market so far in 2025? Here's a breakdown of the 158 new listings over the past few days in the region. Any thoughts?
Exactly. It’s fascinating to see the stats like this. So much more FHA in Yuba also.
Buyers in 2024? Here’s a recap of ten counties in the Sacramento region. It’s a good reminder the market isn’t the same in every location. Any thoughts?
When will new listings start to come? Here's a look at the typical rhythm we see. Sellers start to warm up in January after the low point in December. But the market doesn't really hit a stride until March.
Ollie got a tux for tonight. I hope you have a great time. Happy New Year from my family to yours.
Sellers thawed out more this year. This is definitely the direction we want to see. Lots of recap stats coming soon.
Haha
The housing market starts to heat up in January from a low in December, but it really hits its stride in March. Here’s a good way to look at it with the number of buyers getting into contract. Any thoughts?
sacramentoappraisalblog.com/2024/12/16/t...
Missing sellers have changed the vibe. Normally we might see volume dip, inventory really build, & prices drop. But today, it's been volume plummeting, a smaller build of supply, & higher prices still. I'm not saying prices can't go down. Just saying it's been a different vibe.
18 billion dollars? That's what price volume looks like in the wider Sacramento region so far this year. This is $1.2B higher than one year ago. Any thoughts?
Prices have been flat for months, but check out the rebound in November. But keep in mind we're now comparing today with last year when rates were 8%. Also, square footage was larger in Nov 2024 compared to last year. Any thoughts?
Save the date. Next month I’m hosting a gathering at my fav restaurant since my blog is turning 16. Ha ha. It’s just an excuse to get people together. Think of this like a mixer. I’d love to see you there. Please put it on your calendar and let me know if you can make it. Thanks!
What about the word nestled? Ha ha.
Seems about right.
I hear you. The remnants of stuff left over was pretty sobering. In some cases, it seems like people left in a hurry.
Haha
The algorithm has been so weird on X lately. The search feels totally broken also.
Short sales doubled from last year in the Sacramento region. Of course, what that means is there were two short sales this November and one last year. :)
I love watching the runners. They’ve worked so hard. This is the California International Marathon in Sacramento. Nice to see the fog start to clear up too. And yes, I rode my longboard to watch.
Condo supply has seen a sharper increase in supply compared to detached homes. This is a good reminder that not every part of the market is doing the same thing or has the same temperature. Any thoughts?
