As a region, Sacramento still ranks in the top 10 in the nation for turning over home inventory, but as other metrics have also shown, sales are quite a bit slower than a year ago.
According to rankings compiled by Trulia, 45 percent of all homes for sale in the region have been on the market for two months or more, good enough for ninth nationally. The figure was 41 percent a year earlier, when Trulia noted both investor buys and rapid price appreciation fueled by bidding wars were much more common, making the market that much more active.
The slight cool down, only 4 percent below a year earlier, reflects mostly more inventory on the market, which is still a sellers’ market overall, according to Trulia.
By comparison, in Virginia Beach, Va., 72 percent of homes on sale now were also on the market two months ago.
Of the overall list, every city above Sacramento was on the West Coast and almost all on or near the Pacific Ocean, with Denver, at fourth, the only exception.
In Oakland, which topped the list, 29 percent of the homes on the market had been there two months or longer, and asking prices were 22.7 percent higher than a year earlier. Sacramento asking prices have risen by 22.2 percent, according to Trulia figures.