Supply of homes for sale in Sacramento county has dropped 7 months in a row

[Gordon Cuffe]

I know that many people in the fall of 2022 kept saying that home values will continue to drop throughout 2023. I felt the same way based on the good supply of homes for sale and higher mortgage rates in September. Mortgage rates started to decline after September 2022 and the supply of homes for sale have declined every month since July 2022. We had 4783 homes for sale in the three county areas of Sacramento, Placer, and El Dorado. We know have only 2140 homes for sale as of January 2023. I will not predict that with the spring buying season coming up and the low supply of homes for sale that property values will not be dropping throughout 2023. There still is a chance for values to drop late in the winter of 2023. I will post the graph for people looking in The Sacramento area to visually see the drop in the supply of homes for sale. 

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