The inventory of resale homes on the market is creeping back up as the home-buying season kicks off, with about 11,400 homes for sale during February in the four-county Sacramento region. That's about 1,500 more homes for sale than a year ago, according to the latest figures from Trendgraphix, the research company associated with Lyon Real Estate.
Pending sales, however, increased by 16 percent from January to February, which has industry observers wondering if that might be a sign of a better market.
"The answer depends on the escrow fall-out rate, which, up until now, has been high," said Michael Lyon, president of Trendgraphix. "Buyers fall out of sales quickly when they can find a better home at a lower price."
Actual sales in February were 1,195 homes, lower than a year ago when 1,375 homes sold.
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Article from the Sacramento Business Journal
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