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Sacramento Housing Market Trends November 2017
Sacramento Housing Market Trends November 2017
The Sacramento housing market trends November 2017 shows the underlying story in Sacramento real estate. You have to dig around a little bit to find this chart, but this shows the last 15 months of average square-foot prices in Sacramento County. Over the past year, those prices have increased 11.4%. People are quick to jump on bubble theories, but that’s only because they don’t really understand what happened when the market crashed. They equate rising prices to the market crash, and that would be an untrue and unfair assessment.
Home prices were on the way down when the crash occurred. It was the financing free-for-all, lack of qualifications and the fast and loose Wall Street shenanigans that led to the crash. Today, most people either pay cash or are scrutinized under a microscope, plus they enjoy healthy equity positions obtained by large down payments.
Elizabeth Weintraub’s Prediction for the Future of Sacramento Real Estate
You wanna know what I think? Get ready, it’s not pretty. Here goes. Eventually, most home buyers will get priced out of the marketplace and we will return to a nation of renters. It’s already happening in many areas of the country. I’m also seeing apartment buildings going up in Elk Grove, for example, where single-family homes were originally planned.
People who call themselves a homeowner could become an oddity. Sadly, with the way things are moving, only the elite may own a home in the future. The housing market trends point to this data. In the chart below, you can see the overview of the Sacramento real estate market for November 2017. We are entering our seasonal dip in the number of available homes for sale and closed sales. This dip will probably continue through December as well, although, the month of December will probably be one of my personal best for the year.
My Elizabeth Weintraub Team this year will most likely break all records. We consistently rank in the top 10 in Sacramento. If I were thinking about buying a home right now, I’d be all over this inventory, trying to buy whatever I could. Because next year you might be priced out of the market. I don’t make up the housing market trends; I just report what I see. So, don’t yell at me about it. I didn’t do it.
Sacramento County Housing Market Trends for the past 15 months.
