Let’s make two quick market stops to see what’s been happening cash-wise in the 2013 real estate market in Sacramento County (as well as Placer & Yolo). I’d love to hear your thoughts and what you are seeing in the trenches too.
Stop 1: FHA, Cash & Conventional under $200,000
So far the percentage of cash has not seen a decline in Sacramento County in 2013. There has been a slight dip in FHA and a fairly normal level of conventional loans. The 10%+ dip in FHA over the past year is a good reminder that if your book of business is all FHA, it’s a good time to diversify (and crush it). By the way, 50.5% of all sales in Sacramento County in January and February 2013 were under $200,000. This is significant because what happens in the market under $200,000 will have a huge impact on stats for the rest of the market.
Is it just me or does it feel unreal to see that 52% of all sales in February under $200,000 were CASH?
Stop 2: Cash in Sacramento, Placer & Yolo Counties
We’ll see how quarterly numbers pan out once we have a bit more data to consider next month, but so far Sacramento County has seen an increase in cash in the overall market as well as under $200,000. There is so little data under $200,000 for Placer & Yolo that monthly stats are almost meaningless, so take them with a grain of salt.
Questions: Any thoughts? What are you seeing in the market?
If you have any questions or Sacramento home appraisal or property tax appeal needs, let’s connect by phone 916-595-3735, email, Twitter, subscribe to posts by email (or RSS) or “like” my page on Facebook