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A blog about the economy and the Sacramento-area real estate market.

May 1, 2009
Numbers, numbers, we have numbers
 .....These are in from Metrostudy, a Houston consultant that tracks the home building industry. It places Sacramento last on a list of major American cities - where last really means best.

The category here is months of inventory, the time it would take to sell all the finished, but empty unsold new houses in your market. Sacramento is one of three metros - along with Minneapolis and Colorado Springs - where there were fewer empty unsold homes in Q1 2009 than in Q1 2008.

Builders in all the other metros are still finishing more new houses than they can sell:

A few highlights:

City                     Months of Inventory Q1 '09            MOI Q1 2008        % change 1 year
Sacramento                        3.0                                    4.0                        -24%
San Joaquin Valley             3.7                                    3.4                          +9%
Atlanta                               8.8                                    7.1                         +23% 
Calif. Inland Empire             4.6                                    3.6                         +27%
Phoenix                              4.3                                    3.0                         +44%
San Diego                           9.1                                    6.1                         +51%
Las Vegas                           9.4                                    5.2                         +81%*

*Worst in U.S.

Says Greg Gross, who heads Metrostudy's Sacramento-based Northern California office: "Basically, Sacramento has outperformed the other markets that we track based on months of supply improvement."

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