What’s the Latest News From Our Market?

A lack of sellers and a lack of new construction means inventory is low in our market.

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What’s been happening lately in our Sacramento market?

As you may recall, in my last video I discussed all the reasons we weren’t in a bubble. I cited in particular a lack of new construction and a lack of sellers.


Right now, we’re still just barely back to peak home prices, and some areas are still not back to peak prices. Over time, we’ve needed about 10,000 to 12,000 new homes a year to keep up with population growth, and since the 1970s, new home construction has never been very constant—it’s either been boom or bust. Our “boom” years had as many as 20,000 new homes, and our “bust” years had as few as 5,000. During our last “bust” year, we were down to 2,500 new homes, and we’re still  currently not back above 10,000 units.


The fact is, unless something weird happens, prices cannot be in a bubble. We’ve had year after year of an average days on market of less than 30 days and an average of less than two months for unsold inventory.


"A surplus of new homes isn’t going to pop up overnight."

The average days on market is the amount of time it takes for a home to go into escrow after the moment it gets listed, but that doesn’t take into consideration the homes that don’t sell. If homes don’t go into escrow, they don’t get included in the average days on market. What does get added into the equation is the unsold inventory, which is what the average months of inventory is—the unsold inventory that’s carried over month after month.

Basically, there aren’t enough places to live. Like I said, unless something weird happens, a surplus of new homes isn’t going to pop up overnight.

In other news, interest rates are going up. Prices might not appreciate as fast as they have been, but every neighborhood is different, and you can’t always tell exactly what’s going on just by looking at the numbers.

If you’re curious what your home is worth or you’re thinking of buying or selling a home, feel free to call or email me. I’d love to talk to you.

Experience Sacramento - April 2018

Experience Sacramento 
Check out this great newsletter we create each month for our family, friends, and clients!   We have scoured the events this month throughout the Greater Sacramento Area to bring you the Best of Sacramento. Check out everything that is happening.



EXPERIENCE SACRAMENTO
Premier Event Newsletter


V101 Freestyle Throwback Jam
GOLDEN 1 CENTER
April 13
PRICING: $30 and up
The biggest names in Freestyle and Old School  music, including Grammy Award nominee TAYLOR DAYNE, The King of Freestyle STEVIE B , The Queen of Freestyle LISA LISA and 80's Pop sensation EXPOSE  collaborate to perform popular rhythmic dance and old school mega hits. 


CalExpo
April 8
PRICING: $49.50 and up


Sabroso Craft Beer, Taco & Music Festival, headlined by The Offspring is a day filled with craft beer, tasty gourmet tacos, Lucha Libre style wrestling and live music! 




Amazing Grace!
HARRIS CENTER
April 1
PRICING: $56 and up
The awe-inspiring true story behind the world's most beloved song - captured in a Broadway musical. "The hymn, which many associate with the civil rights movement, was written in the 18th century by an Englishman who worked in the slave-trading business.


Sacramento "FootGolf"
Tournament

William Land Golf Course 
April 7
PRICING: $50 single, $150 Team of 4
The game is played the same way as golf, except players use a futbol/soccer ball instead of a golf ball, and the ball is kicked rather than struck with a club, working towards a 21-inch "cup" in place of the usual golf hole. Lowest score wins! 

-Every player gets a Puente Futbol Foundation ball, bag, & pump-
-Live Music & Free Beer-
-New & fun challenges on the course for the event only-
-Awards & Special Category Prizes-
-All Ages-



STAR OF ABC'S SHARK
TANK KEVIN O'LEARY
LIVE

Crest Theater
April 19
PRICING: $19.99 and up


WEALTH BUILDING STRATEGIES FROM A SHARK
What You'll Learn at Kevin O'Leary Live!
Just about everyone dreams about finding personal freedom, but for too many, it remains just a dream. Kevin O'Leary has unlocked the secrets of achieving - and keeping - the kind of freedom you long for.




Canon Live Learning
Workshop

GOLDEN 1 CENTER
April 21 & 22
PRICING:  $50


Cars and Cameras! What could be better than combining two hobbies into one great photography workshop?Join Canon Live Learning instructors Jim Rose and Dave Henry in a program designed to help you make great images of cars from all eras - from a 1886 Benz to modern day classics.


CLASSICAL CONCERT:
AARON LARGET-CAPLAN

Crocker Art Museum
April 8
PRICING: $6 and up


Renowned classical guitarist Aaron Larget-Caplan will return for his second appearance at the Crocker Art Museum to showcase the powerful connection between music and visual art. 




Morris Day and The Time

Crest Theater
March 31
PRICING: $55 and up

A 7-foot clown walks into a bar. He motions for a soda water and sits there staring at his drink. The year was 1998 and Puddles had wandered into the Star Community Bar in Atlanta, GA where bartender Big Mike Geier first laid eyes on the sad, silent clown. Known as "The sad clown with the golden voice" and for singing pop anthems with tear-jerking bravura. Puddles is in town for a rare appearance in Sacramento. Don't miss it!