Sacramento Real Estate Report
Check out the difference a year ago in June 2011 and compare it with June 2012…yes, this is the reason why we are experiencing multiple offers on the current homes for sale. With a difference of -63.1% of inventory down from a year ago, is the culprit for home buyers finding homes for sale with 12-30 offers. The average price continues to go up each month with 2.8% up from the previous month, 4.7% up from 1 year ago and 5.6% up from 15 months ago. This graph is a combination of short sales, foreclosed homes for sale and traditional sales.
Bank Owned Real Estate Report
This graph speaks for itself as it has each month over a 15 month time frame with bank owned, foreclosed homes disappearing. Over a 15 month period, foreclosed homes are down 82.1% with 1/2 month inventory on the real estate market for sale. Evern bank owned home property on an average sold more in June per square foot than in any 15 month time period. As these number start disappearing, we will know things are getting better with real estate.
Sacramento Short Sale Report
What a GRAPH! For the past 5 months what we’ve been seeing are fewer short sale homes for sale and banks still taking way too long to approve short sales. Pending short sales have staggering numbers that don’t begin to even come close to the sold figures. That’s why you see the red line above the for sale and sold graphs with such high numbers. In terms of inventory, again it’s the same song and dance…not enough with just a mere .7 months for home buyers to fight over. Again, the price per square foot was higher than the previous month by 1%.
Good news on homes for sale, known as traditional home sales (99.9% of the time, these are the homeowners who have equity). Inventory was up slightly from the previous month…the only category of real estate that actual had an increase in inventory. There was 1.4 months of inventory based on closed sales. Price per square foot was up by .06% over the previous month, up 1.8% from 1 year ago and up 2.1% over a 15 month period. Things are looking good for the traditional homes for sale!