Home Front: Capital region's repo sales blitz extends into October

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Home Front

A blog about the economy and the Sacramento-area real estate market.

November 14, 2008

Capital region's repo sales blitz extends into October

First off....Welcome, Dale Kasler, to Home Front. The real estate - economy interface promises to add a whole new dimension to this blog, which started earlier this year. We've worked on lots of stories together. So watch for this to be a good continuation of that.

Now for the news:

October sales of existing homes reached a seventh straight month of being higher than the same month last year, reports the newest statistics from the Sacramento Association of Realtors and the Placer County Association of Realtors.

In Sacramento County and the city of West Sacramento, sales rose from September, which is pretty amazing given that this is when the market really starts to slow down for the winter.

The trends are all the same, lower prices and higher sales, mostly repos, according to this October news release from the Sacramento Association of Realtors.

Here are the association's summary statistics for the month. Note: 37 percent of sales were under $160,000.

Finally, here are the statistics by ZIP Code for Sacramento County and West Sacramento combined.

Now for Placer County. Real estate agents in the suburbs reported fewer October sales than in September. Apparently, a lot of sales there were lower-end, too, as the median price fell below $300,000 to $294,450.

The October details are all here in the Placer County Association of Realtors report.

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