May 2018 Sacramento Housing Report is In From Trendgraphix
Before I get into the details of the May 2018 Sacramento Housing Report, I thought I would use the above excellent illustration to help my readers absorb the facts. We need a little serenity and reflection on calming influences before examining the numbers. This particular photo is a new Buddha addition I found at Pier I in Kailua-Kona. As my husband knows, I am fond of repeating that a person can never have too many Buddhas. Unlike, his beliefs about the number of cats in any given household.
Further, all Buddhas are not the same. This is a meditation Buddha. Not only that, but it is a meditation Buddha sitting in a double lotus position. One of the first poses my mother taught her children, who knows why. Perhaps so we could feel special that we can flatten our feet on top of our thighs. To this day, I prefer to sit crosslegged, like some teenager. If you suffer from back problems, try it.
Now for the May 2018 Sacramento Housing Report. As you can see from the numbers above and the graph, everything is going up. Inventory is increasing, but so is demand. Our closed sales in May were up 5% over April, yet on par with the same quarter a year ago. Inventory jumped 14% over last month. Pending sales increased 18.1%.
You might be asking yourself, is there any end to this madness? At what point will demand drop off? When will inventory exceed demand? Not any time soon, it looks like. Perhaps not even by fall because even with an uptick of inventory, our homes for sale still stands at fewer than two months. Inventory would have to creep closer to 6 months of inventory before we could see a buyer’s market.
The Sacramento Bee reports our population in Sacramento proper exceeds 500,000 people now. For the first time ever. We are the 6th largest city in California and growing like crazy. Sacramento is the fastest growing city in California. Building is not keeping up with demand for new homes, and finding a resale home is tough. Tough but not impossible, as evidenced by the large number of homes we sell every month.
Don’t let the May 2018 Sacramento Housing Report stop you from trying to buy a home. People buy homes every single day in Sacramento. With the Elizabeth Weintraub Team on your side, your odds of buying a home are pretty much guaranteed. Call Elizabeth at 916.233.6759.