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Showing posts from August, 2012

Folsom / American River Canyon North Market Update for July 2012

FOLSOM:   Another busy month for buyers and sellers in July.  The overall number of homes sold in July is down from June, but so is the available inventory.  Most homeowners $450,000 and under are still receiving multiple offers within days of going on the market. When was the last time we saw interest rates in the 3's?  Buyers understand this are looking to take advantage of the cheap loans available right now and the lack of available homes is driving up prices slightly.  The majority of homeowners are not seeing their home values drop and instead are steadily on the increase.  There is a 2.16 month supply of available homes in Folsom. Look below at the July Sold Homes by number of units and you will see the homes which are selling are more evenly spread across the price ranges instead of the bulk of sold homes being in the $200,000 to $300,000 price ranges as in previous months.  This may be a good indicator that our home purchasers are not all investors but homeowners who w