Closings in the small Placer County town fell sharply from a year ago, but the homes that did sell traded in a fraction of the time.
Median sale prices rose modestly year-over-year in the three months ending May, even as inventory grew and homes sold faster than a year earlier.
The typical home sold for almost $44,000 less than a year earlier, even as buyers returned in greater numbers and snapped up listings faster than they did in April.
The City Council reserved local subsidy dollars for a new affordable rental project in Westpark and received a quarterly briefing on rental assistance, while the Planning Commission cleared a home addition on South Lincoln Street.
The City Council pushed a decision on a new Toll Brothers small-lot neighborhood to June 23, gave final approval to an annual special tax in Alder Creek West, and locked in $200,000 for free home repairs for low-income seniors.
The City Council approved final maps and construction agreements for two adjacent subdivisions in the long-planned Rio Del Oro community, the last paperwork step before homes can be built.
City Council examined yearly performance of Sacramento's main affordable housing programs, while planners take up a revised plan for the Deer Creek Plaza site. A routine ethics-code update for the city's housing agency also moved forward.
The headline price fell 9% year-over-year, yet price per square foot climbed nearly 9%, pointing to a shift in what's actually selling.
Sacramento's median sale price fell 2.1% year-over-year while the per-square-foot price dropped just 1.8%, suggesting a shift toward smaller homes rather than broad price weakness.
A jump in 30-year rates pushed the monthly payment on a median-priced Santa Barbara home to 106% of local median household income.