Tuesday, July 14th, 2009Sacramento activity has remained relatively consistent for the past few months, showing slight increases in sales volume. After a significant increase from April to May (7.7%), the median sales price made no movement for the current month. Distressed properties still account for a large number of transactions and make up a majority of the listing inventory. New this month is the comparison between REO sales, short sales and equity sales.
There were 1,744 single family home sales in June, a .6% increase from the 1,733 sales of May. Year-to-year, there is a 7.4% decrease from the 1,883 sales recorded last June. REO sales decreased 10.4% month-to-month, from 1,050 in May to 940 in June. These 940 REO sales made up 54% of June sales. Short sales, on the other hand, have been on the rise. In May, short sales made up 14.5% of all sales with 251. Short sales accounted for 16.6% (290) of the 1,744 sales this month. Comparing the two months, there is a 15.5% increase from 251 to 290 short sales.
Continue reading: Sales Volume Constant, Median Sales Price Unmoving, Affordability Climbs
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