The market is slowing in Sacramento

[Gordon Cuffe]

The graph says it all. There were 1438 homes sold in the three county area surrounding Sacramento. Last year in September 2022 there were 1868 homes sold. There were fewer homes for sale in September  2023 at 2576 ,compared to 3944 homes for sale in September 2022. It seems like these higher interest rates are limiting the number of qualified buyers and lower the number of sellers willing to sell. It seems like the owners who have the rates below 3.5% are not willing to trade them in for rates in the 7% range for their new home purchase. Now the rates have jumped a 1/2% the past three weeks. That is going to slow down the market for the winter months. 

[Gordon Cuffe]

@Jake Andronico If you get a great off market fixer upper deal, please send it my way. I want to buy a fixer upper near you if the numbers make sense.