Pending Home Sales Up
Most agents I talk with recently have been complaining about how the Sacramento and Roseville area housing market appears to slumping but according to a recent report from the California Association of Realtors (CAR), pending sales increased 17.8 percent in March and is the highest since July of last year.
Pending home sales are based on signed contracts and are a forward looking indicator of future home sales.
The National Association of Realtors also reported pending home sales increased across the country by 3.4 percent and is the first gain in the past nine months. The report goes on to predict increased homes sales are expected as we see more inventory of available houses and jobs.
Although home sales are expected to trend up over the balance of the year and into 2015 the slow start most likely means sale levels on a national basis will not exceed the 2013 volume.
Another positive sign is the share of equity sales, or non-distressed property sales, which has been increasing steadily over the past year. The share of equity sales increased to 87.6 percent in March, up from 85 percent in February. Equity sales stabilized over the past several months but have started rising again as the spring home-buying season takes off. March marks the ninth straight month that equity sales have been more than 80 percent of total sales. Equity sales made up 71.8 percent of sales in March 2013.
In Sacramento and Placer counties we are seeing similar trends. The percentage of distressed property sales have declined significantly from last year. In Sacramento only 17 percent of March sales were distressed properties compared to 37 percent in March 2013. For Placer County the drop from last year to this year was 35 to 11 percent.
Now we just need more houses to come on the market and jobs!
If you are considering buying or selling and have questions about the market and if this is a good time, please let me know. I can be reached at the MagnumOne Realty office in Roseville (916-899-6571) or by email to email@example.com
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Placer County News HeadlinesPlacer County Republican Party To Hold 2014 ConventionLOOMIS - The Placer County Republican Party will hold its endorsement convention on Aug. 23 to select which candidates to support for local offices in Placer County.
Job Fair in Roseville August 22ndRoseville, CA -- Multiple community agencies including Brandman University, The City of Roseville Libraries, Placer, Sacramento and El Dorado Counties, Golden Sierra Job Training, and Sacramento Works
Roseville Crime Report Digest Update (7.23.14)The Roseville Police Department weekly crime report digest update for July 23, 2014.
California Limits Full Contact Football for StudentsGovernor Jerry Brown signed into law AB2127 which limits, but does not eliminate full contact football practices for middle and high school students.
Beware of Deceptive Home Improvement OffersThe California Contractors State License Board (CSLB) is urging consumers to be aware of home improvement offers by individuals who use unethical business practices to gain entry into their homes
Continuous Improvement Network: August 6th & 20thSierra College CACT provides Value Stream Mapping Training in Sacramento on August 6 & 20 for the Continuous Improvement Network
Alternative Transportation Programs in Placer CountyPlacer County Transportation Planning Agency (PCTPA) is your resource for information about alternative transportation services in Placer County.
Auburn Woman Attacked Inside HomePlacer County sheriff's detectives are looking for a man who attacked a woman at her north Auburn home early this morning.
Western Nationals Softball Tournament in Roseville and LincolnASA Softball is bringing the Western Nationals for the Girls B 10U & 12U divisions to the Placer Valley Area. The event is six days long, taking place from July 28-August 3.
Tahoe Public Projects Garner AttentionTahoe Transportation District has been recognized nationally and by the state of Nevada for its positive impacts, collaborative initiatives, environmental enhancement, and service to the community's
Rocklin National Night Out Events August 5thEach community member is invited to join their neighborhood watch group and the Rocklin Police Department for National Night Out on Tuesday, August 5, 2014.
Recovery Plan for California Salmon and SteelheadNOAA Fisheries and the California Department of Fish and Wildlife (CDFW) jointly released two plans to restore populations of salmon and steelhead in California's Central Valley