Markets are holding steady
The market data for the Sacramento area for July 2019 is now available for your pleasure. All the counties I report on have shown a decrease in market activity compared to last year at this same time. Though interesting from a historical perspective, when deciding to purchase or sell a home, what is the current trend is your baseline for decision making.
Sellers recognize the pricing trends in your neighborhood for the last three months. Appraisers will weigh this data heavily in determining their opinion of the worth of your property.
Buyers pricing is not coming down. Pricing has held steady for the last three months. Weak inventory is the catalyst for propping up the strength in pricing. Understand you have fewer options in which to choose when you go shopping.
The positive in the market, mortgage rates are cooperating, allowing affordability for more people wanting to become homeowners.
Some friendly advice, consider refinancing your current home if the new rate reduction is ≥3/4% then your current mortgage interest rate and you plan to stay in your home for a few more years.