Sacramento Market Update 6.28.2023

by Paul Peletta

 
Welcome to a special 5th week of June newsletter.  Share this email with someone who may be interested or could use it, and you could be chosen for a $25 gift card.

New construction homes are where the action is at right now.  New home sales are far outpacing existing home sales.  I spoke about this a few newsletters ago.  New home builders become efficient sellers in a higher mortgage rate environment as they are able to offer more incentives to buyers.  If you are someone reading this and thinking about buying soon, I highly encourage taking a look at some of the new communities in our area.   If you see something you like, let me know, I'd love to initiate contact, visit the community, tour the homes and see their process.
I was able to go to the Grand Opening for the new Signature Homes at Delta Shores.  They have two series of homes, the Catalina and Coronado.  I personally really enjoyed the Catalina Series of homes more.  There was a particular layout that in my opinion was above and beyond the others, but you'll have to message me directly to find out.
This past weekend was jam packed.  I had a client couple in town from Austin, TX looking to move back to CA.  We saw seven houses in 5 hours on Sunday.  Our search spanned Lodi to Roseville.  Within 24 hours we were able to get into contract on their top choice house in Lodi, CA.  They are beyond excited, and I am too.  This market is wonky, but with the right team, and the right attitude good things happen. 
 
Home prices are steadily ticking higher.  A product of the days on market steadily ticking lower. We have an inventory of 1,020 in the whole county of Sacramento. For reference, we had 2,098 in October 2022, and 3,147 in September 2018 (the last time we had a normal housing market).
 

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