February Market Update

Market fluctuates and for one to make a statement on what is happening in the market now and where we are heading, one needs to see several months of a "trend". 
We do know that rates are still low and that is causing some buyers to be out there shopping. We also know that rain tends to keep some  sellers from putting their homes on the market and we have had a particularly "wet" year. Yes, if you can't blame it on anything else, "Blame it on the rain". And April is just around the corner and that's when we see a jump in the number of homes going on the market. Let's see what happens in April. Bur for now, here are some stats for all Sacramento County areas combined.
Compared to the same month last year, in February (we are always one month behind in stats because we have to wait for numbers to come in) number of 
For Sale homes went up 12%
Sold homes decreased by -15.9%
Pending properties went up 4.7%

Remember me mentioning the importance of "trends" when looking at the market, well, here are the stats for the past quarter compared to the same quarter last year:
For Sale homes went up 12%
Sold homes decreased by -20%
Pending homes decreased by -8.2%

So, yes homes are not selling as fast as they did last year. 
I'm a member of an online group of Sacramento realtors and someone had asked the group what they all see. The common denominator was: "Buyers are looking for move-in ready homes and are willing to pay over asking." This is more so for the more affordable homes of say under 450K. Another comment several had mentioned which I have seen a lot is"Buyers have no problem walking away from overpriced properties." Today's buyer is very savvy:They have access to online sources plus their agents. They know how much homes are selling for. Overpriced homes don't even get viewed. 
This is it for this month. 
Interest rates are low. If you or anyone you know is thinking of buying or selling real estate, let me know.