supply of homes for sale up for th month in a row

[Gordon Cuffe]

The supply of homes for sale around the three county area of Sacramento has risen for the 8th month in a row. There was only a 1.5% rise in supply compared to August 24 to September 24. There were 3447 homes for sale on MLS in September 2024. In January of 2024 there were only 1648 homes for sale. We are no longer in a Sellers market. In September of 2023 we had 2389 homes for sale. We had a 2.5 months of inventory in September 2024 that is up from a 1.5 months supply of inventory back in February 2024. Based on the supply of homes for sale and the time of year, I predict home values will drop a little bit over this winter until early spring. We shall see what happens with the supply of homes and interest rates to determine if values will drop this next spring of 2025 or if they will push back up. I have one home up for sale and another one being listed in two weeks. I am going to be very aggressive on pricing and not wait for the homes to be listed months and months then start lowering the prices.