Home Front

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

August 21, 2009
Sacramento-area home sales reach 2009 high in July

Late Friday Update:

Here is the regional price/sales chart for Sacramento-area counties. 

And here is the ZIP Code chart to drill deeper into price/sales in the neighborhoods.

Sacramento-area sales of new and existing homes combined  reached another 2009 high in July as 3,815 buyers closed escrow in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties, researcher MDA DataQuick reported this morning.
 
That's up from 3,758 sales in June in the capital region - but down from 4,126 last year. It's the second month in a row that home sales have fallen below last year's levels. Analysts say it's because repos pushed up sales so dramatically last year. There are far fewer on the market now.

Median price rose to $180,000 in Sacramento County - the largest sector of the market with six in 10 sales. That's after two months at $175,000 - well above the low earlier this year of $160K.

Perhaps more significantly, the rate of decline in prices has slowed dramatically in the county. The July 2009 median is down just 14.3 percent from the same month last year after many months of 30 percent and higher year-over-year declines.

More Sacramento County stats:

  • 38 percent of July sales were priced below $150,000.
  • 6.6 percent were $400,000 and above.
  • 43.2 percent of sales used FHA loans typically used by first-time buyers.
  • 24.8 percent of sales by absentee buyers presumed to be investors.
  • 58.7 percent of sales were foreclosed properties - lowest percentage since April 2008.

Here is an early online report in The Bee.

Meanwhile, here's the July reports for the San Francisco Bay Area and the Los Angeles region.

About Comments

Reader comments on Sacbee.com are the opinions of the writer, not The Sacramento Bee. If you see an objectionable comment, click the "report abuse" button below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.

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 feedback@sacbee.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 feedback@sacbee.com. Again, make sure you note the headline on which the comment is made and tell us your profile name.

hide comments

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.



Jim Wasserman on Twitter

Follow "jimwasserman" on Twitter

October 2013

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31