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Rob Saxe's Blog

By Rob Saxe | Agent in Rocklin, CA

Sacramento Home Sales - April

Sacramento Real Estate Market Takes a Breath

The April numbers, honestly, aren't that surprising.  That said, I expected the average sales price to be closer to the numbers in the first quarter of this year.  I guess buyers, especially investors, are taking a bit of a break from the harried pace of the last 4 months.  With fewer sales, prices have come down.

Average Sales Price and Homes Sold Dips

The average sales price of homes in Sacramento County dropped almost 16% in April.  Compared to the numbers in the first quarter, this is a little startling.  While not surprising due to the number of homes that are not occupied AND not on the market. This has created a "false bottom" in the Sacramento real estate market and investors are waiting to see what's going to happen going forward.

This news has gained national attention and it's my guess that buyers, especially investors, are waiting to see what the next couple months will bring.  It's been my advice to investors to sit tight for a month or so to get a better read on what the banks will do with the homes that have been foreclosed on but aren't on the market.

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Comments

By Sofaking,  Tue May 26 2009, 12:44
I wonder when it will get better I will watch your site to find out.
By Rob Saxe,  Tue May 26 2009, 15:14
Hi Sofa,
What do you mean by "better"? For buying or selling? If you're thinking of buying, it's a great time. If you have to sell it's a good time as well you just won't make as much as if you waited a couple years from now or sold a couple years back.
The market is nearer the bottom than not from all accounts. Thanks so much for the comment and please feel free you use my site at your convenience.
Rob Saxe

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