Today's WSJ reported that inventory continues to grow rapidly. Sacramento inventory is rising faster than the national average. They stated that this growth is "above the seasonal norm." Typical increases from March to April run in the 4.5% range nationally. Sacramento looks to be around 12% according to the chart. (D2)
On the demand side, the WSJ had an interesting article yesterday about migration and population growth patterns in the U.S. over the last couple decades. While the author was looking at these patterns for political/voting implications, I believe these patterns are also closely tied to the cost of living, with housing being among the biggest contributors.
Closely related to the population growth patterns issue is today's article on where home prices are still rising (the details of which are fairly consistent with yesterday's findings). (D1)
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2 comments:
Great job launching this blog. It's a very readable combination of folksy and analytical.
Did you say you moved here from the East Coast? We moved here 9 months ago from Boston and are renting while we wait it out. First time living on the West Coast and Sacramento has been a real find.
Thanks for the feedback! I am an analyst by trade, so looking at the stats and numbers helps keep me from trying to nest.
I met my future hubby while living in Sacramento after college, but moved out East for graduate school. He followed. We got married, and added 2 kids. So last summer we figured it was time to move back to Sac (afer 8 years).
Sacramento is great (see the post on reasons why I like Sac). Not too small, not too big, and lots to do nearby.
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