Sacramento home construction slid 21% in March as California permits jumped 22%
Builders pulled 632 residential permits across the Sacramento region, a sharp underperformance against a statewide pace that surged more than 22% year over year.
Builders pulled 632 residential permits across the Sacramento region, a sharp underperformance against a statewide pace that surged more than 22% year over year.
Yolo County's four housing markets diverged sharply in March, with Davis prices falling more than 16% even as sales picked up across most of the region.
Newly released Redfin data for March shows a wide gap across the region, with prices climbing more than 10% in two cities and falling nearly 15% in another.
A wide split is opening across the East Sacramento suburbs, with luxury markets diverging sharply and Rocklin emerging as the region's most competitive battleground in March.
The small Yolo County city's median sale price climbed to $735,000 in March, even as sales volume and inventory both fell by more than half from a year earlier.
Homes sold rose sharply year-over-year while inventory tightened, leaving West Sacramento with just 1.7 months of supply heading into spring.
The college town's median sale price dropped 16.2% year-over-year in March, even as buyers moved faster and inventory grew.
A 13.6% year-over-year price gain pushed Woodland's median sale price well above the statewide trend, even as inventory grew and homes sold faster.
A drop in prices combined with lower mortgage rates means buyers in Elk Grove are paying $438 less per month than they were a year ago, even as homes sold 11% faster.
Newly released March data shows prices down 14.8% year-over-year, even as homes sold faster and buyers saved roughly $578 a month compared to last spring.