supply of homes for sale up for 6th month in a row

[Gordon Cuffe]

I just looked at the data for August 2024 and read that there were 3397 homes for sale in the three county area around Sacramento. That is the sixth month in a row that the supply of homes for sale has increased. I am going to declare that it is no longer a sellers market and that it is a neutral real estate market now. We had 2.2 months of inventory in August that is up from last years months of inventory of 1.4 months back in August 2023.We also have had a nice drop in mortgage rates the last several months so I am just hoping rates stay low and inventory increases even more so that we have a lot more real estate sales this winter. 

[Michael K Gallagher]

out of curiosity where does this compare to say 2018?

[Gordon Cuffe]

@Michael K Gallagher When I go back six years it only shows the numbers quarterly. I will just show a picture of the graph. The supply is not a much as 2018 yet.