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Report: New Pending Homes Sales Up In January

  

A new housing report finds pending sales are up in the Sacramento area but the number of completed sales is down. 

The data show there were nearly 2,088 new pending sales in the Sacramento area in January. Trendgraphix is a research firm. It says that was a 36-percent increase from December, and an annual jump of 5 percent.

A sale is listed as "pending" when the property has been appraised, inspections have been completed and the buyer's loan has been approved.

The numbers also show 1,470 home sales have closed escrow - the lowest number in more than a year. Analysts say the decrease is typical because fewer people buy homes in December during the holidays.

Last month 2,373 new listings hit the market in the four-county area. But the inventory of homes for sale is still at its lowest since May of 2013.

The median sales price in January was $324,000, relatively unchanged from the previous few months. 

 real estatehome sales

Steve Milne

Morning Edition Anchor & Reporter

Steve is the voice of Capital Public Radio News as anchor of Morning Edition and Insight. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music. Steve also produced stories for CapRadio.org.   Read Full Bio