According to Housing Wire we're out of the woods and on the way to a normal market as foreclosures have gone down by 50%. With that said I was wondering how we're doing in the Sacramento area this last month and I found the latest statistics from the California Association of Realtor's website (CAR).
Month over month, there is nothing to brag about, especially considering this is the beginning of peak season in real estate, but year over year still proved to be much healthier than expected which explains the month over month drop.
Sacramento May/April 2014
Find out what's happening in Fair Oaks-Carmichaelfor free with the latest updates from Patch.
$273,970 reduced by 2.5% to $267,260
Year over year shows an increase from 13.4% to $243,660
Find out what's happening in Fair Oaks-Carmichaelfor free with the latest updates from Patch.
Overall it appears we are slowing into a more normal market as the amount of inventory has increased to 3 months. Homes are sitting on the market for a longer period of time and it looks like we've ridden the wave and have finally hit the shoreline....whew...what a ride!