Thursday, June 12th, 2008FOR IMMEDIATE RELEASE: June 12, 2008
(RESIDENTIAL RESALE STATISTICS May 2008)
Following the central valley climate, the Sacramento residential resale market continues to heat up, showing increased sales, a declining inventory and prices making homes ripe for the picking. The following information, compiled by the Sacramento Association of REALTORS®, is collected from the MetroList® multiple listing service and includes data covering Sacramento County and the City of West Sacramento.
At May’s end, closed escrows continued to climb, showing an optimistic increase to 1,654, 14.1% over April’s 1,450 closed escrows. When compared to the same month one year ago, the May 2008 sales contrast sharply with the 940 closed escrows of May 2007, showing a 76% increase. In line with the recent MetroList® conversion, a new statistic for the month of May shows over 65% of all closed escrows as bank-owned properties, with 1,084 out of 1,654 homes sold listed as “REO.”
Continue reading: May Continues with Increased Escrows; REO Properties Pull Prices Down
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