Should we give credence to March?
I was hesitant to produce the March statistics for the area since we are in a market situation never seen before.
If you are like me, you are curious–is the Sacramento real estate market on lockdown?
In general, the data shows an uptick in activity when compared to last month; however, looking at last year’s numbers, we are down considerably.
Expectation would have sales for March, April, and May higher than the previous month. March data stayed true-to-form, the future still in doubt.
Steady-Eddie
Interestingly, prices are not yet showing a decline, steady-Eddie.
There is activity as you can glean from the charts. Homes are being bought and sold.
I particularly honed in on pending sales since this will foretell the future of sold homes.
Of the homes that reflect Pending as of March 31, 40-50% went pending in previous months, still waiting to close. The percentages may change now that title/escrow companies are considered essential.
I suppose the charts do not show anything definitive in predicting future activity or pricing. They are interesting and fulfills my curiosity about what happened in our real estate market in March. I hope that applies to you as well.
Your thoughts–is the Sacramento real estate market on lockdown?
Contact me with any questions or comments. They are always welcomed and appreciated.
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