The Sacramento area real estate market has been hit hard by the recession just like almost every other part of the country. Sacramento homes for sale are being listed and sold at prices much lower than they were a couple of years ago. The housing market was one of the segments of the economy that was hit hardest by the financial collapse of 2008 and the resulting recession. Asking prices for Sacramento homes for sale are on average about thirty eight thousand dollars lower than they were a year ago. In the past year, about two thirds of California residents who sold their houses did so because they could no longer make their mortgage payments. This puts tremendous downward pressure on home prices. During 2009, more homes sold in Sacramento than in 2008, and they sold on average for a price thirteen percent lower than in 2008.

There are some signs, though, that the market for Sacramento homes for sale is tightening up somewhat. For example, the inventory of homes for sale in Sacramento County is currently about one hundred eighty units lower than it was in March 2009, with a little over seven thousand houses on the market. Pending sales are up twenty three percent over the same period a year ago. As these pending sales clear the market and fewer homes are put up for sale, it is expected that average selling prices will start to go back up to recover some of the value that was lost in the Great Recession. If you are a potential buyer looking at Sacramento homes for sale, then this may be the ideal time to enter the market. With interest rates low and prices still suffering from the recession, you may find a really good deal on your dream home. If you are a homeowner considering selling, you might be wise to wait a few month or years to see if the early signs of recovery point to a much stronger seller’s market down the road.