Too many For Sale signs has long been a huge sword hanging over this capital-area housing market. But they've fallen back to July 2005 levels in El Dorado, Placer, Sacramento and Yolo counties, according to the newest March report from Sacramento property researcher TrendGraphix.
March ended with 8,189 homes for sale in the four county area - 19 percent of them bank repos.
Home builders, too, in the capital region have also whittled exceess inventory - houses already built or almost built without buyers - to levels last seen in early 2005.
So available inventory, bottom line, is back to a time when there was a buying frenzy going on. It's a good indicator on both fronts for the market to reach equilibrium. Of course, there's the big question of the "shadow inventory," those homes inhabited by people who aren't paying the mortgage. No one seems to have a good grip on how many are those are headed onto the market in coming months - or what it might mean for the market.
Nonetheless, inventory is falling as prices fall.
From TrendGraphix, here are the numbers of For Sale signs in the four-county area over the past year:
What You Should Know About Comments on Sacbee.com
Sacbee.com is happy to provide a forum for reader interaction, discussion, feedback and reaction to our stories. However, we reserve the right to delete inappropriate comments or ban users who can't play nice. (See our full terms of service here.)
Here are some rules of the road:
Keep your comments civil. Don't insult one another or the subjects of our articles. If you think a comment violates our guidelines click the "report abuse" button to notify the moderators. Responding to the comment will only encourage bad behavior.
Don't use profanities, vulgarities or hate speech. This is a general interest news site. Sometimes, there are children present. Don't say anything in a way you wouldn't want your own child to hear.
Do not attack other users; focus your comments on issues, not individuals.
Stay on topic. Only post comments relevant to the article at hand. If you want to discuss an issue with a specific user, click on his profile name and send him a direct message.
Do not copy and paste outside material into the comment box.
Don't repeat the same comment over and over. We heard you the first time.
Do not use the commenting system for advertising. That's spam and it isn't allowed.
Don't use all capital letters. That's akin to yelling and not appreciated by the audience.
You should also know that The Sacramento Bee does not screen comments before they are posted. You are more likely to see inappropriate comments before our staff does, so we ask that you click the "report abuse" button to submit those comments for moderator review. You also may notify us via email at email@example.com. Note the headline on which the comment is made and tell us the profile name of the user who made the comment. Remember, comment moderation is subjective. You may find some material objectionable that we won't and vice versa.
If you submit a comment, the user name of your account will appear along with it. Users cannot remove their own comments once they have submitted them, but you may ask our staff to retract one of your comments by sending an email to firstname.lastname@example.org. Again, make sure you note the headline on which the comment is made and tell us your profile name.
On October 14, The Sacramento Bee will temporarily remove commenting from sacbee.com. While we design the upgrade, we encourage you to tell us what you like and don't like about commenting on sacbee.com and other websites. We've heard from hundreds of you already and we're listening. Please continue to add your thoughts and questions here.
We also encourage you to write Letters to the Editor on this and other topics.