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Sacramento Housing in December: Sales Down 22% YoY, Active Inventory up 36% YoY

December closed with 1,104 total sales, a 15.3% decrease from the 1,304 sales of November. Compared to the same month last year (1,408), the current figure is down 21.6%.

The Active Listing Inventory decreased, falling 20.8% from 2,714 to 2,149 units. [Note: Compared to December 2017, inventory is up 36.4%] The Months of Inventory dropped slightly to 1.9 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory.

The Average DOM (days on market) continued its increase, rising from 36 to 38 from November to December. The Median DOM also increased, rising from 24 to 25. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.” Of the 1,104 sales this month, 56.3% (621) were on the market for 30 days or less and 78.8% (869) were on the market for 60 days or less. emphasis added

Inventory is still low - months of inventory is at 1.9 months, probably closer to 4 months would be normal - however inventory is up significantly year-over-year in Sacramento.

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