Contrary to what many would think, it is normal for the Sacramento real estate market to seasonally slow down a bit in the months of July, August, and September. For the past several consecutive years, the available number homes for sale has tended to spike during the summer months while demand calms down slightly. This is normal. I think it probably has to do with our super hot summers...people go on vacation in July. Schools resume in August...people just have other priorities during Sacramento summers. And then after Labor Day the market picks back up a bit again until the holidays.
Sacramento County, you will see the same trend each summer...inventory increases. Then it decreases.
And the same has happened this summer. This is not unusual. In fact, if you look at the increase in inventory from summer 2014, the increase in inventory then was much higher than it is now. And everything was peachy keen.
I think buyers have a nice opportunity until the buying frenzy picks back up after the holidays. Relatively speaking, there is a little less competition from other buyers (and if this season is anything like past ones, there probably will be a bit less competition through the holidays). Relatively speaking, there are more homes to choose from. Key word here is relative. 2.2 months of for sale inventory is still not a lot. But this is definitely more inventory than what Sacramento home buyers have grown accustomed to. Sellers, don't expect to overprice your home and sell it quickly with multiple offers. Be realistic. Good marketing and exposure is key. The fundamentals matter. (For the record, all of my current listings are in contract with buyers)
The reality is that good homes are still in high demand.