And the slowdown continues… But this might be for the better since prices are seeing some slightly better numbers since REOs have been down under a month’s supply of inventory. But let’s go into the details step by step. I’m jumping ahead of myself.

1852 homes sold in Sacramento county this month of which just 1000 were bank-owned. That’s a decline in REO sales by almost 26% year over year. Meanwhile, short sales at 302 sold gained 79% year over year. non-distressed homes of which just 550 sold this month are also seeing an increase year over year of 9.1%. Overall unit volume was down 8.4%.

Sold price per square foot is currently at $120.49, a little better than last month’s figure of $116.86. That is three months in a row now that we have seen price increases. Seasonal or will it stick? We’ll have to wait and watch! However, overall, prices have fallen 17.3% year over year. The average sales price is currently hovering just under the $200,000 mark at $196,672 (again, better than May’s numbers) and median sales price is at $175,000.

Inventory has not changed month to month – 3.2 months based on the last year of sales and 3.4 months based on the last six months of sales. Foreclosure inventory is at 0.5 months.

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