A quarter of monthly double digit sales increases? Might be hard to believe with all the bad news we’re bombarded with every day, but it is 100% true. It’s been three straight months of at least 10% sales increases, that’s monthly, for the greater Sacramento area.
1,746 homes were sold in Sacramento County in September, a 13% increase from a year ago. Volume in Placer and Yolo Counties both increased by 22% while closings in El Dorado County beat them all at 23%.
This is great news for our local housing market and overall economy, but it doesn’t mean we’re out of the woods yet. Prices in many areas are still not appreciating yet and things probably won’t change for a while still. However the simple fact that more people are buying homes is going to change that sooner than later. Supply and demand is the rule and with local inventories as low as they are (less than two months in some local areas) prices simply have to start inching up in the not-too-distant future.