You may have heard people talk about the election affecting the Sacramento market. What really happens to the real estate market during an election year?
Using some historical data from the California Association of Realtors, we’ve crunched some numbers and identified that during an election year, home values appreciate a little bit less than they do during a normal year. We’re actually starting to notice that here in the Sacramento market. The number of homes going on the market month-over-month has increased by 10%. Comparatively speaking, the number of solds month-over-month is sitting at 1.9%. There is more inventory, more choices, and the buyers are taking a little bit longer to make their decisions. We’ve been going at a phenomenal pace; I consider us to have gone from 110 mph to 65 mph, if you will.
It’s still a great pace and we’re still seeing multiple offers on our properties, just not 5 -10 offers like we were at one point. The market is still going strong and there’s still a window of opportunity to capture peak values in our market right now.
If you have any other questions for me, send me an email or give me a call. I look forward to continuing this conversation with you. Thanks for watching today!