Sacramento Housing Stats February

Now that the month is over, I’ve compiled somewhat of a comparison for your inquiring minds

February 2010

Sold/pending
2,814

Active “regular” listings
2,421

Active short sale listings
1,323

TOTAL Active listings (I like to separate them because, we must remember, they are, in most cases, not bank approved)
3,744

February 2009

Sold/pending

2,490

Active Listings (didn’t have a lot of short sales, nor does it show in the report I generate)

1,792
Tamara’s Commentary

Well, we’ve got nearly twice the inventory as we did a year ago, but the good news is, sales are fairly consistent. Short sales present a problem in evaluating the stats for Sacramento home sales because we have so gosh darn many of them! The thing to keep in mind about short sales is in most cases they are not bank-approved, which means, it may take 2 weeks to three months to hear back from the bank. Rumor has it that this time frame is leaning toward the shorter time span, however, I am a month out on waiting to hear back from the bank in one deal, and three weeks on another, so I can’t really see the speeding up yet.

The good news is that houses are selling and it’s still February, so I’m expecting a new surge of buyers to match the upcoming increase in inventory. I’m still seeing multiple offers and counter offers (so frustrating for buyers), so things are humming along.

Catch my real estate, upbeat radio show at www.InLoveWithSacto.com  or do a Sacramento home search at www.BuyinSacto.com

ta ta for now!

Tamara