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Kaye Swain Roseville REALTOR - Specializing in Over 55 Communities in Roseville CA Area

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Roseville Area Home Prices: It’s All About Supply and Demand

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Wondering About Roseville Home Prices?
Sacramento and Roseville Home Prices: It’s All About Supply and Demand

As we here in the Roseville and Sacramento area enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on our Sacramento Greater Valley area including Roseville home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come here in Roseville and beyond.

Too Few Homes For Sale

Making our way through the month of June and entering the second half of the year, we face an undersupply of homes on the market – here in Roseville, in the Greater Sacramento Valley area and throughout the United States. Keep in mind, this undersupply is going to vary by location and by price point. According to the National Association of Realtors (NAR), across the country, we currently have a 4.1 months supply of homes on the market. Historically, 6 months of supply is considered a balanced market. Anything over 6 months is a buyer’s market, meaning prices will depreciate. Anything below 6 months is a seller’s market, where prices appreciate. The graph below shows inventory across the country since 2010 in months supply of homes for sale.Roseville and Sacramento Home Prices: It’s All About Supply and Demand Robert Dietz, Chief Economist for the National Home Builders Association (NAHB) says:

“As the economy begins a recovery later in 2020, we expect housing to play a leading role. Housing enters this recession underbuilt, not overbuilt. Estimates vary, but based on demographics and current vacancy rates, the U.S. may have a housing deficit of up to one million units.”

Too Few Even in Sacramento Area

And yes, that has been true for the last few years in our Roseville Sacramento area – including in the midst of this quarantine. Given the undersupply of homes on the market today in Roseville and Sacramento, as well as so many other cities through California and the United States, there is upward pressure on prices. Looking at simple economics, when there is less of an item for sale and the demand is high, consumers are willing to pay more for that item. The undersupply is also prompting bidding wars, which can drive price points higher in the home sale process. According to a recent MarketWatch article:

 “As buyers return to the market as the country rebounds from the pandemic, a limited inventory of homes for sale could fuel bidding wars and push prices higher.”

In addition, experts forecasting home prices have updated their projections given the impact of the pandemic. The major institutions expect home prices to appreciate through 2022. The chart below, updated as of earlier this week, notes these forecasts. As the year progresses, we may see these projections revised in a continued upward trend, given the lack of homes on the market. This could drive home prices even higher.Home Prices: It’s All About Supply and Demand | Simplifying The Market

Bottom Line for Roseville Home Prices +

Many may think our Roseville and Sacramento area home prices will depreciate due to the economic slowdown from the coronavirus, but experts disagree. As we approach the second half of this year, we may actually see our area home prices rise even higher given the lack of homes for sale.

Contents of this article...

  • Wondering About Roseville Home Prices?
  • Too Few Homes For Sale
  • Too Few Even in Sacramento Area
  • Bottom Line for Roseville Home Prices +

Posted in: Real Estate News Tagged: Corona Virus, quarantine, real estate, Real Estate Market, real estate news, real estate update, Roseville Homes

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Hi and Welcome to KayeSwain.com.

Are you looking for homes for sale in Roseville CA and the surrounding area? I appreciate your stopping by and invite you to check out the various options available - from blog posts to inform you about this lovely Greater Sacramento Valley Area, to home searches you can set up - such as homes for sale Roseville, Lincoln, Rocklin, Granite Bay, Citrus Heights, Carmichael, Fair Oaks, etc, to fun real estate eye candy and more. And yes! This is true for residential neighborhoods, condo communities, and all of our lovely 55+ active senior retirement communities. If you have any questions about buying OR selling your home in Roseville or the surrounding Sacramento area, do give me a buzz at 916-768-0127 or email us at KayeSwainRE@gmail.com We're here to help you and your family with your real estate needs.

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Kaye Swain Roseville Real Estate Agent, 916-768-0127, KayeSwainRE@gmail.com, CalBRE#01966207, with Keller Williams Realty, 548 Gibson Drive, Suite 200, Roseville CA 95678, (Each office is independently owned and operated)

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