Keep it Real in Sacramento

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If you have been a long time reader of my blog you may well remember I used to spend a fair amount of print writing about the monthly statistical reports.  I can’t remember when was the last time I posted something to my blog or wrote an article on the monthly results.  I suspect there are several reasons, including the media spotlight on real estate and the “downturn,” “crisis” or “meltdown” stories in the Sac Bee and other outlets almost daily.  Other blogs, especially the bubble blogs like Sacramento Land(ing) focus almost every post on the market and do a good job keeping readers informed of the latest reports about the Sacramento area real estate market.

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The Sacramento Bee had their monthly synopsis of the local real estate market in the business section this morning.  Jim Wasserman’s article, “Home sales seek bottom” was not one of his most succinct efforts.  I had to go back a read it a couple of time to make much sense.  I  think he was trying to cover too much in too large an area.

Overall the May results we generally not very positive unless you live in Yolo County where the median price was up 2.1 percent from last year.  In the other seven counties reported on, including Sacramento and Placer the median prices continued their year over year decline. The most positive news for May that sales of existing homes was up, as expected, from April in all except El Dorado County. 

One of the more brilliant quotes in the article included, Anthony Graham, from my own brokerage, Lyon Real Estate, who said, “I think we’re really starting to see a little more hesitance on the part of the seller to put their home on the market.” Really, Anthony, do you think so?

Foreclosure activity in California during the first quarter took a large step towards the record high activity back in 1996 when during the second quarter of that year 15,418 foreclosure sales occurred.  During the first quarter this year we had 11,033 sales and almost 47,000 Notices of Default filed.   Take a look at my article “More Californian’s faced with sting of foreclosure” posted on the Sacramento Real Estate News page at Jalone.com or in my Rocklin & Roseville Today column.

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I finally completed my review of the Rocklin real estate market for the first month of 2007, “Cold Winter Days.”  There was not much good news to report but some of the other communities in our Sacramento area seem to be showing signs of life with increasing sales volume and stabilizing prices so we will keep an eye on Rocklin and see what happens over the next few months.

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As a follow-up to my monthly real estate review, “Sacramento Real Estate: As well as can be expected,” I have prepared an overview of how the Roseville real estate market performed during the first month of 2007.  You can read it on my website or in my Rocklin & Roseville Today column.

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