Where's the Market Heading and What Does It Mean For You?

Sacramento CA Real Estate Podcast with Thomas March

There are many great Roseville and Sacramento area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at [phone] for a FREE home buying or selling consultation to answer any of your real estate questions.

Where's the Market Heading and What Does It Mean For You?

It's that time of year again! The holidays are upon us and the new year is right around the corner, making now a perfect time to stop and take a look at what's happening in the Sacramento market.

Currently, there are 3,522 homes for sale, which is a 2.1% increase over last month and a 25.2% increase over last year. A total of 1,354 properties sold last month, which is a 5.6% decrease from last month and a 4.1% decrease over last year. These numbers are nothing to worry about, however, because the number of pending homes is up 11% over last year and we have 1,489 homes pending, which is a slight 1.4% increase since last month.

What this tells us is we currently have a pretty stable market. There is still under three months of inventory here in Sacramento, which is technically a seller's market, but low interest rates make it a good time to buy as well. As we head into the winter market, many people think the market will slow down, as people are pulling out of the market for the holidays. Right now, if you're a buyer, you should take advantage of the fact that many buyers are pulling out of this very competitive market.

We hear from many buyers that they would rather wait until spring to look for a home because there is a higher inventory. While that's true, there will also be a lot more buyers out there to compete with. We truly believe that the current market is one of the best ones to buy a home in. Interest rates are expected to rise sometime next year, so now may be the most ideal time to buy a home for years to come.

Rising interest rates also affect sellers. When rates go up next year, many buyers are going to realize they can no longer afford homes they were initially interested in, or may find out that they are no longer eligible for financing. Since buyers are likely to leave the market in droves next year, now is also the time to sell, while buyers are still clamoring for homes. It's probably not in your best interest to wait until spring next year.

These are just a few things to think about as the year comes to an end. If you would like to discuss what these conditions mean for you, or if you have any general questions about real estate, don't hesitate to give us a call or shoot us an email. We would love to hear from you!