Sales Decline in June as Sacramento Real Estate Market Cools
Sales fell more than 10% and median selling price fell slightly
The weather warmed into July, but the housing market cooled in June. The Sacramento Association of Realtors released its real estate market report for June, which showed sales were down 10.1% compared to May this year. KCRA has consulted with the association whether it is normal to see this at this time of year. “The market often slows down a bit as the summer starts,” said Louis Sumpter of the Sacramento Association of Realtors. The median home price also fell slightly, from $536,000 to $530,000. It decreased by 5.4% from June last year. Listed inventories increased 9.2% from May to June. The average number of days a home is on the market in the area has dropped from eight to seven days. So sales are stagnant, but time spent in the market is decreasing. | More | Sacramento Mortgage Rates on July 10: Rates Soar to 2023 High
The weather warmed into July, but the housing market cooled in June.
The Sacramento Association of Realtors released its real estate market report for June, which showed sales were down 10.1% compared to May this year. KCRA has consulted with the association whether it is normal to see this at this time of year.
“The market often slows down a bit as the summer starts,” said Louis Sumpter of the Sacramento Association of Realtors.
The median home price also fell slightly, from $536,000 to $530,000. It decreased by 5.4% from June last year.
Listed inventories increased 9.2% from May to June. The average number of days a home is on the market in the area has dropped from eight to seven days. So sales are stagnant, but time spent in the market is decreasing.
| More | Sacramento Mortgage Rates on July 10: Rates Soar to 2023 High
