Local home sales continue upward trend for June

This post was published 8 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

We continue to see local home sales going up. But really only for homes priced under $150K. For that price, you can own a home for what you’d pay monthly in rent. A a result, we are seeing multiple offers on new arrivals in our marketplace, and a sharp reduction in available inventory. It sounds ludicrous to say in the depths of what must be the roughest housing market in many years, but frankly, for the right range, the market is HOT!
homes for sale in redding caThe bars show inventory expressed at Months on Hand, and as you can see, they are reduced to as low as it has been for some time. Below, the numbers behind the graph.
real estate in redding caYou may see different numbers elsewhere. We use data that defines our local marketplace. Roughly, from Lakehead to Lake California, from Shingletown to Whiskeytown.
Up to $150K is where the feeding frenzy cuts off, however. What’s missing from our market are the move-up buyers. Lack of jobs and underwater mortgages decimates our traditional source of mid-range buyer pool. That’s really too bad, since building move-up homes was a big source of local jobs. Kind of a catch 22 situation with no end in sight…

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