Sacramento-area ‘Home Sales’ reach 7-year high!

As prices continued to soar, more homes were sold across the four-county Sacramento region in July than at any time in the past seven years, DataQuick reported Thursday.

Buyers purchased 3,932 homes in Sacramento, El Dorado, Placer and Yolo counties last month. It was the highest sales figure since March 2006, duSacramentoring the waning days of the housing boom, the San Diego-based real estate information service said.

DataQuick analyst Andrew LePage said a long awaited “supply response” is finally happening, with more Sacramento-area homeowners willing or able to list their homes for sale as buyer demand drives up prices.

“A supply response was guaranteed if prices continued to rise,” LePage said. “There are more people whose homes are worth more than they owe and and more people content with what their homes will fetch.”

Article by: Hudson Sangree

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