Anybody who doesn't realize that the Sacramento market has reached the bottom either isn't paying attention or is watching TV soaps. The activity this August has been nuts. Ordiinarly, I will see a spike right after Labor Day, but instead this year it happened mid-August. It's frightening to think what will happen after Labor Day.
Buyers are demanding deals and concessions, banks, reos and sellers are listening. Mutiple offers are the norm. There is no freakin' inventory. We had 14 months of inventory last December and now Sacramento County has shrunk to 3.7 months. Pretty soon those pending sales and closed sales lines on the charts will cross inventory. When that happens, it means prices will go up. And we are closing in on that mark.
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