May 2019 Homes Sold in Sacramento Spell Competition

The number of May 2019 homes sold in Sacramento could spell heavy competition between buyers. This is your Market Update: If a picture paints a thousand words, this photo says it all. The pendings have met the active listings, and this has not happened in the last 15 months. This is huge for the greater Sacramento County and could spell out even fewer homes to buy. It is a seller’s market, and buyers do not kid yourself; write your highest and best offers and throw in the kitchen sink too . . ..

The low inventory of homes is slim pickings and, in some areas, it is a deficient number of homes for sale. Look at the March pendings vs. April, the light green, then the red line, the pendings. This shows that even with a slight increase in homes available, this increase was absorbed by the buyers.

The pending sales in Sacramento have steadily increased since December 2019. This is a crossroads we face. Inventory based on prior years should, by history, increase starting in February; however, our inventory decreased in February and March of this year. We had a slight uptick in April, but it all sold.

May 2019 homes sold in Sacramento is the highest number in 15 months. Here are some tips you can use when you are buying a home.

• Write: short inspection time periods such as 10 days to complete your inspections.
• Shorter loan approval time frames make your lenders hustle.
• Shorter appraisal days, pay for a rush.
• Split title, escrow and transfer taxes fees.
• Pay for your own home inspection.
• Tell the seller in the offer you will not ask for repairs.
• Provide loan preapprovals, proof of funds and other relevant information.
• Close escrow quickly.
• Offer a seller rent-back at no cost.

What does all this mean for buyers? In short, buyers stop thinking you are going to get a deal; as reflected in this May 2019 homes sold in Sacramento report, you could face months and months of letdowns. You must write competitive offers. Think out of the box. Use great lenders like our preferred lender with Guild Mortgage, Dan Tharp.

If you want to hire agents who think out of the box, call Weintraub & Wallace at RE/MAX Gold, 916-233-6759.

— JaCi Wallace