I think we more stable in this current market than we have been in the last few months. That is not to say prices are increasing or turning around just that the over all sales activity indicate the mass decline may be over
The number of active residential listings was actually lower year-over-year by more than 5%. Of course this points to more competition in competing homes.
9% of the sale were short sale or bank owned this is an increase from 3%. CAN you say BARGAIN shoppers !!
Residential inventory for housing increased to 10.4 months in May.
Settled residential sales has increased each month since January 2009. In May, foreclosure properties comprised 16.3% of settled residential sales. Foreclosures have been holding steady between 14.6% and 17.2% each month.
Pending sales are up.
May 2009 Highlights Listings: Residential active listing count went up slightly from 14,326 (Apr 09) to 14,401 (May 09) a 0.5% increase, but it is down year-over-year by -5.2%.
Sales : Total Residential Sales were down by -10.36% as compared to May 2008 (1,531 vs. 1,708).
Compiled monthly by Sacramento Association of REALTORS® and rewritten and inspired by me with a little spin !