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

July 10, 2009
Short sales on the rise in Sacramento
sold-sign-home-for-sale.jpg
New June sales numbers just arrived from the Sacramento Association of Realtors, which is noting a fairly rapid rise in short sales across Sacramento County and the city of West Sacramento.

The SAR counted 1,744 closed escrows for the month - 16.6 percent of them short sales and 54 percent bank repos. The trend: repos keep declining as a percentage of sales and short sales - in which a lender accepts less than owed to avoid the higher costs of foreclosing - are rising.

A couple of highlights:
  •  Median prices stayed at $180,000, same as May.
  • Sales fell 7.4 percent below the same month last year.
  • 10,023 closed escrows the first half of the year, up 23 percent from same time last year.

Here is the

news release.

The summary statistics.

And the regional  ZIP Code Report.

Photo courtesy of njrealestatewire.com

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