Sacramento Real Estate Market: Trends & Forecast 2022 | Fortune Builders (2023)

main topics

  • Overview of the Sacramento Real Estate Market
  • real estate market forecast
  • Real Estate Market Trends
  • closing trends
  • average house price
  • Investing in Real Estate in Sacramento
  • The best neighborhoods for renting real estate

HeSacramento Real Estate Marketowes much of its recent success to its neighbors. The success seen in San Francisco and San Jose translated perfectly into California's capital. In particular, the relative affordability of Sacramento's real estate market has made it more attractive than its Golden State counterparts. As a result, homes in Sacramento have increased in value without sacrificing demand.

However, it should be noted that the latest rise in home values ​​has started to make real estate prohibitively expensive. Median home values ​​are testing new highs every month in 2022, which begs the question: Is Sacramento good for real estate investing? In short: yes. While housing is more expensive than ever, the impact of COVID-19 on the local housing market has created new opportunities. The unique confluence of demand and increases in local home values ​​should serve Sacramento real estate investors well if they listen to what the market tells them.

Sacramento Real Estate Market Overview 2022

  • Average home value:$ 475.136
  • Average list price:US$ 624.667 (+5,1% ano a ano)
  • 1 year appreciation rate:20,9%
  • Median home value (1-year forecast):15,8%
  • Delivery weeks:4,5 (-0,3 what a what)
  • New lists:381 (-19.9% ​​year-on-year)
  • Active Ads:1,960 (-20.3% year-on-year)
  • houses sold:490.0 (-5.2% year-on-year)
  • Average days on the market:12,3 (0,0 what a what)
  • average rent:US$ 2.228 (+12,5% ano a ano)
  • Price-rent ratio:17.77
  • Unemployment rate:4.4% (latest estimate from the Bureau of Labor Statistics)
  • Population:1,552,058 (latest US Census Bureau estimate)
  • Median family income:$67,151 (latest US Census Bureau estimate)

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Sacramento Real Estate Market: Trends & Forecast 2022 | Fortune Builders (1)

Sacramento housing market forecast for 2022

As the capital of California, one of the most popular state markets in the country, Sacramento has received some significant tailwinds. Despite the pandemic, Sacramento's real estate market appears to be thriving. In particular, the capital's latest success seems to be due to its proximity to several other major cities. Sacramento has been getting more attention as the cheaper alternative to its exorbitantly expensive neighbors to the south (San Francisco and San Jose). Nearly a decade of appreciation culminated in a shift from larger cities to "smaller" cities.

The extra care comes at a time when more and more people are working from home. At the very least, fewer people need to live near an office, giving them the freedom to look for cheaper alternatives. It's fair to say that California's capital will get a lot of extra attention for the rest of 2022 because it's simply more accessible than many of its neighbors. Demand will likely continue to drive prices further, perhaps up to more than 15.8% over the next 12 months, or at least until more stock can be added to the drastically short 4.5 weeks of supply.

Inventory constraints will also affect the rental market. With a price/rent ratio of 17.7, renting a home is often more affordable, which means the rental market is already on the rise. However, the lack of listings has prevented potential buyers from participating in the market. Ultimately, those who can't find a home to buy will be relegated to the renter pool, which seems to get bigger by the day. In response to additional competition, landlords will be free to increase requested rates accordingly.

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The median forecast for the Sacramento housing market indicates a significant increase in home values ​​over the course of a year. With inventory levels well below a balanced market and rising demand, along with historically low interest rates, competition will drive rapid appreciation rates until more homes can be brought to market.

Sacramento Real Estate Market Trends 2022

The vast majority of current trends in the Sacramento real estate market are directly related to the same supply and demand constraints that affect every city across the country. There simply aren't enough homes to keep up with the onset of rising demand due to lower borrowing costs. However, of all the most prevalent trends, one is worth paying the most attention to: the impact of COVID-19 on the Sacramento housing market.

The Impact of COVID-19 on the Sacramento Real Estate Market

The introduction of COVID-19 in the first quarter of 2020 affected what could only be described as a "hot" national real estate market. Since the country put the Great Recession in the rearview mirror, most markets across the country have posted impressive gains, and California's capital was no exception. To that end, the pandemic has served as a major drag on what would otherwise be a thriving real estate market.

Without warning, all real estate activity ground to a halt due to fear and uncertainty. Almost overnight, bottlenecks occurred in understaffed banks, landlords withdrew their listings from the market, and would-be buyers were refused entry into other people's homes. The abrupt halt to real estate operations in the city happened almost overnight. Fortunately, the market came back strong almost as quickly as it stalled.

The impact of COVID-19 on the Sacramento real estate market has more to do with the newly created indicators than the virus itself. In particular, the Fed cut interest rates to historically low levels to encourage buying activity. With rates around 3.45%, buyers are more likely to act sooner, and so far, the thesis holds. More people are ready and willing to buy today than just a few months ago. Unemployment has improved and the light at the end of the pandemic tunnel is getting brighter. All of this is great news for the Sacramento housing market, but inventory levels remain a concern.

Supply and demand remain an issue, and the coronavirus has only exacerbated the stock shortages. As a result, competition will continue to drive up home prices for the foreseeable future. Prices will rise as demand outstrips supply, but help is on the horizon. Builders have been able to get back to work and should be able to relieve some of the stress. The new listings are a departure, but the fact remains that more homes will come onto the market in the coming years, which should help everyone in the local market.

Sacramento Home Foreclosure Trends 2022

According to the ATTOM Data Solutions Mid-Year 2021 Foreclosure Market Report, “A total of 65,082 US properties with foreclosure records (reports of default, scheduled auctions, or bank foreclosures) in the first six months of 2021. That number is 61 percent lower than the same period a year ago and 78% lower than the same period two years ago.”

Foreclosures have been down nationwide for most of the year. The totalitycalifornia real estate marketsaw a considerable decline from the first half of 2020 to the first half of this year. During that time, California foreclosures dropped by more than 57%. As one of the largest cities in the state, there's no doubt that the Sacramento, California real estate market has done its part to ease filing cases.

However, it's worth noting that the decline in foreclosures had more to do with government intervention than the financial situation of today's homeowners. As a result, it's safe to assume that the city will see an influx of foreclosures sooner rather than later.

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"The foreclosure moratorium on government-backed loans virtually stopped foreclosure activity last year," said Rick Sharga, executive vice president of RealtyTrac, an ATTOM data solutions company. “But mortgage agents were able to initiate foreclosure actions on vacant and abandoned properties, benefiting neighborhoods and communities. So it's likely these foreclosures are causing the slight increase we've seen in recent months."

Foreclosures in Sacramento will increase; It's not a question of if, but when. The end of government assistance will ensure an increase in defaults. As a result, Sacramento real estate investors should start getting financing now. At the same time, this will allow them to help homeowners in distress and secure settlements.

According to, Sacramento foreclosures have an average price of $449,000 and spend about 43 days on market. Those looking to secure a foreclosure may want to give special consideration to the following neighborhoods:

  • it's sacrament
  • avenida
  • southern natives
  • Meadowview
  • Pocket

Average house price in Sacramento 2022

The median home price in Sacramento is $475,136. At first glance, the capital of São Paulo seems expensive, with median housing values ​​48.1% higher than the national average. That said, the median home value in California is $734,612, or 54.6% more than in Sacramento. While capital may seem "expensive" to some, it is relatively affordable.

However, despite its relative affordability, Sacramento's median home value has increased by 20.9% in just one year. For context, the average home in California appreciated 20.1% last year, and the national average saw a more modest jump of 19.6% over the same period.

The latest increase in home values ​​is primarily attributable to the state's proximity to San Francisco and San Jose. More specifically, the pandemic has created a work-from-home environment that has allowed more people to get out of prohibitively expensive cities. The influx of buyers created a competitive environment and allowed homeowners to raise sales prices above the state average.

Going forward, the trend is likely to continue. With less than two months of available inventory, listings will remain short due to increased demand. The resulting competition will drive up the median home price in Sacramento by perhaps as much as 15.8% over the next year.

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Sacramento Real Estate Investing 2022: Should You Invest?

The biggest feature of the Sacramento real estate market is its proximity to San Jose and San Francisco. As a cheaper alternative, Sacramento has seen an increase in shoppers. How shoppers shy away from companies likeSan Franciscoysan jose, the city has become a safe haven for those with a more “modest” budget.

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While Sacramento real estate is more affordable than its neighbors, prices are well above the national average. So much so that rehabilitators find it harder to make attractive profit margins. Prices are testing new highs, which begs the question: will Sacramento home prices fall?

Home values ​​are unlikely to drop any time soon in the Sacramento housing market. All the attention the state capital is gaining is simultaneously increasing demand and competition. The extra attention has allowed homeowners to raise sale prices for nearly a decade. Now that the pandemic has cut off local stock supplies, prices are set to rise for the foreseeable future. There are not enough homes to meet the demand created by today's record low inventory rates. It is safe to assume that Sacramento home values ​​will continue to rise for the foreseeable future.

That's not to say that rehab isn't still considered a viable exit strategy, just that today's investors are seeking refuge in long-term rental properties. Not only can rental properties help offset today's higher prices with years of cash flow, but borrowing money from traditional lenders has never been cheaper. In January, the average commitment rate on a 30-year fixed-rate mortgage was 3.45, according to Freddie Mac. Rates have increased slightly year on year, but remain attractive to today's buyers. Today's rates will simultaneously save thousands of dollars for today's rental investors and increase cash flow from properties put into service. At a minimum, the lower the mortgage obligation, the more Sacramento real estate investors can save on rents collected.

The Sacramento real estate market is expected to experience an influx of buyers and renters from people fleeing other cities. With more people working from home during the pandemic, the need to live near an office has been virtually eliminated. People have the option to trade their cramped spaces for spacious accommodations in Sacramento. The exodus from nearby cities will almost certainly increase rental demand and reduce the risk of vacancies.

If that wasn't enough to get Sacramento's real estate investor community excited, here are some other factors to consider:

  • Homes with Affordable Entry Price
  • healthy real estate market
  • Cost of living and quality of life.
  • diversified job market
  • Rental market growth

Homes with Affordable Entry Price

Across the country, real estate in California's capital is looking expensive. However, the median home price in Sacramento is well below the median home price in California. As a result, local investors can secure a California home for less than California prices.

Sacramento Healthy Housing Market

No more than a short drive from San Francisco, Sacramento's real estate market is getting a lot of attention. Not only are buyers looking to trade the expensive confines of the Golden City for more affordable living arrangements, but Sacramento offers all the big-city conveniences most people are looking for with a booming job market. After all, California's capital city offers everything homeowners need without the high price tag. The resulting demand has resulted in one of the healthiest real estate markets in California.

Cost of living and quality of life

With a median household income of $67,151, families earn 12.0% less than the state average ($75,253). However, the median home price in California is a staggering 53.7% higher. The disparity between the two is heavily skewed in favor of Sacramento homeowners. So homeowners have access to more affordable living without sacrificing the reason most people want to call California home: the weather.

Diverse job market

As a cheaper option to Silicon Valley and San Francisco, Sacramento is attracting more and more companies. The health, education, technology and agriculture industries, in particular, have managed to stabilize the city's unemployment rate. As the state capital, Sacramento is a hub of activity. It attracted some big employers: Sutter Health, Intel Corp., Kaiser Permanente, Dignity Health and Raley's Inc. (to name a few).

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Growth of the rental market in Sacramento

The latest housing boom has resulted in an equally demanding rental property market. At the very least, those with off-market prices or unable to find a home due to a dearth of listings are relegated to the renter pool. There's no doubt about it: the rental market is growing at a rapid pace, and rates are doing their best to keep up. In the last year, the average income increased by 11.7%. Investors securing a property now can expect rents to rise in the near future.

Best Neighborhoods for Rent Homes in Sacramento

From a real estate investor's perspective, the best rental neighborhoods in Sacramento will match an inherent level of demand. In particular, neighborhoods where homes are selling quickly, unemployment is relatively low, and incomes are relatively high will show a propensity for good rental terms. With that in mind, the Sacramento real estate investment community wants to pay special attention to the following neighborhoods:

  • river park
  • Pocket
  • west lake

river park

  • Sale price:US$ 743.000 (+8,4% ano a ano)
  • Sale $/sq. Foot.:$ 400
  • Total homes sold:4
  • About list price:3,7%
  • Deposit:7,4%
  • Days on the market:7
  • Unemployment rate:3,3%
  • Median family income:$ 100.793


  • Sale price:US$ 531.000 (+8,3% ano a ano)
  • Sale $/sq. Foot.:$ 348
  • Total homes sold:23
  • About list price:2,9%
  • Deposit:14,3%
  • Days on the market:8
  • Unemployment rate:4,6%
  • Median family income:$ 82.751

west lake

  • Sale price:US$ 600.000 (+74,5% ano a ano)
  • Sale $/sq. Foot.:$ 270
  • Total homes sold:8
  • About list price:4,0%
  • Deposit:7,5%
  • Days on the market:7
  • Unemployment rate:3,1%
  • Median family income:$ 103.309


The recent success of Sacramento's real estate market is due, in large part, to the unprecedented success of its neighbors. San Jose and San Francisco are too expensive for many people to call these areas home, forcing potential buyers to turn their attention to Sacramento. As a result, real estate investors who can cater to those who come to their city from their more expensive counterparts can have a good year. It is expected that not only will demand increase, but so will the value and opportunity of the home.

Have you thought about investing in it?Sacramento Real Estate Market? If so, what are you waiting for? We'd love to hear your thoughts on Sacramento real estate in the comments below.

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*The information in this document was taken from third-party websites. Although this information was obtained from sources believed to be reliable, FortuneBuilders Inc. makes no representations or warranties, express or implied, as to whether the information presented is accurate, reliable or current. Any reliance on this information is at your own risk. All submitted information must be independently verified. FortuneBuilders Inc. assumes no liability for any damages, including direct, indirect, punitive, exemplary, incidental, special or consequential damages arising out of or in any way connected with the use of the information presented.

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Are home prices dropping in Sacramento? ›

In January, the median home price in Sacramento was $525,000, a 3.9% decrease compared to January 2022, the U.S. News Housing Market Index reports, based on Redfin data. The median price is also down more than 13% from its five-year high in March 2022, when the median price reached $608,000.

Will Sacramento home prices keep rising? ›

Sacramento MSA home price has been forecasted to decline by 3.6% between January 2023 to January 2024 (ZHVF). Higher mortgage rates are putting a damper on the Sacramento housing market. Sales of existing homes are falling as compared to last year.

What is happening in the Sacramento housing market? ›

Sacramento Housing Market Trends

What is the housing market like in Sacramento today? In January 2023, Sacramento home prices were down 7.4% compared to last year, selling for a median price of $440K. On average, homes in Sacramento sell after 40 days on the market compared to 12 days last year.

Will 2023 be a good year to buy a house? ›

Levine added, “Home prices will also moderate further over the next several months as interest rates remain elevated in the near term and seasonal factors come into play.” CAR in its 2023 California Housing Market Forecast report, predicts a 7.2% drop existing single-family home sales in 2023.

Is the Sacramento housing market cooling? ›

SACRAMENTO - The housing market has cooled in recent months, but Sacramento remains one of the most sought-after metro cities in the country to move to, according to Redfin. We spoke to experts about what to expect from the housing market in 2023.

Will home prices drop in 2023 California? ›

The California median home price is forecast to drop 8.8% to $758,600 in 2023, following a projected 5.7% increase to $831,460 in 2022 from $786,700 last year.

Will house prices go down in 2023? ›

Zoopla said it expects house price falls of up to 5% in 2023. Property consultancy company JLL has forecast house prices in the UK will drop by 6% in 2023. While housing expert and buying agent Henry Pryor says he expects house prices to slip slowly through the year ending 2023 down by around 10%.

Who are the wealthiest people in Sacramento? ›

Among the richest would undoubtedly be Angelo Tsakopoulis, the developer, who has been reported to be worth $600 million. Probably also, Mark Friedman, the owner of the Arden Fair Mall and the developer of other properties. Sacramento has been a government town, primarily, though that is changing.

Will California housing prices ever come down? ›

California's median home price is forecast to decline 8.8 percent to $758,600 in 2023, following a projected 5.7 percent increase to $831,460 in 2022. Housing affordability is expected to drop to 18 percent next year from a projected 19 percent in 2022.

Is Sacramento a buyers or sellers market? ›

Sacramento, CA is a seller's market in February 2023, which means that there are more people looking to buy than there are homes available.

Is Sacramento housing market overvalued? ›

Sacramento, CA is One of the Most Overpriced Housing Markets in America. Demand for housing has risen sharply in 2021, and that has affected prices.

Are homes selling in Sacramento? ›

Sacramento, CA, Summary

Homes in Sacramento, CA were selling for a median price of $475,000 in January 2023. On average, homes in Sacramento, CA sell after 84 days on the market compared to 25 days last year. 1445 homes were sold in Sacramento, CA in January 2023, up from 490 last year.

Should I build a house now or wait until 2023? ›

Interest rates and overall building costs are not forecasted to decrease into 2023, and could even continue rising. The market is volatile and world events are unpredictable, so it is likely that building sooner could save you money in the long run.

Will 2024 be a better time to buy a house? ›

Given the current trend of a steady rise in housing prices and limited housing supply, the housing market in 2024 is likely to see modest growth, rather than any substantial increase or decrease.

Should I sell my house or wait until 2023? ›

But most economists believe that affordability pressure from rising mortgage rates will continue to curb demand, causing prices to fall in many markets in 2023. So if you're poised to sell, some experts contend that now is a better time than later this year.

Which housing markets are cooling the fastest? ›

Las Vegas; North Port-Sarasota-Bradenton, Florida; Salt Lake City; and Provo-Orem, Utah, round out the top 10 fastest-cooling metro markets, according to SmartAsset analysis.

What is the rating for Sacramento? ›

According to U.S. News, Sacramento is 5.6 out of 10 for desirability, 6.2 in job market, 4.7 in housing affordability and 6.6 in quality of life.

What is the rental vacancy rate in Sacramento? ›

Population trends

Among 95820 residents, there is a homeowner vacancy rate of 1.3% and a rental vacancy rate of 5.0% from a total of 13,480 units.

Will home prices drop in 2024 California? ›

While it's quite possible for median home prices to fall another 5% in 2024 – or a total potential drop of about 10% from the end of 2022 – if mortgage rates decline faster than predicted, that could mean home prices remain mostly flat through the end of 2024.

Will property prices fall in 2024? ›

On the home stretch. House prices in Australia will have fallen by up to 20% by the end of 2024, and NSW Transport Minister David Elliott's spear-throwing days are over: he'll leave politics at the March election.

What should you not do when staging a house? ›

Staging Mistakes to Avoid When Selling Your Home
  1. Starting without a plan. ...
  2. Listing a home before it's ready. ...
  3. Not taking professional photos. ...
  4. Neglecting simple home improvements. ...
  5. Making major renovations. ...
  6. Not removing or replacing dated décor. ...
  7. Hanging pictures too high or too low. ...
  8. Using non-neutral colors.

Is the housing bubble about to burst? ›

While a housing price correction is expected, we aren't in a housing bubble. Demand for homes remains high, and there are fewer home sellers than there were in 2022. And while the market is cooling, experts don't expect an actual housing crash to happen or a housing bubble burst.

Will house prices rise in next 5 years? ›

Will London house prices rise in next 5 years? According to the forecast, house prices in London are expected to fall substantially in 2023 as a result of the increased borrowing costs and inflation. Mortgage rates reached record-low in 2020 and 2021, but have started to rise as a response to inflation.

What will houses be worth in 2025? ›

Using Zillow's typical home values, we forecasted their potential growth based on current year-over-year change projections. We then compared it to the projected median U.S. home value for 2025 ($481,692.98) to see what cities just miss the mark of affordability.

What is the richest suburb of Sacramento? ›

Richmond Grove$739,000
Land Park$708,083
Poverty Ridge$661,365
Southside Park$650,000
6 more rows
Mar 24, 2016

Who is the wealthiest family in Sacramento? ›

The distinction goes to Michael Teel, CEO of Raley's Family of Fine Stores, according to a report from Forbes. The report lists the richest person in each of America's 50 largest cities. It cites a net worth of $940 million for Teel, who last year became majority owner of the West Sacramento-based grocery company.

Where do rich hang out in Sacramento? ›

The Wealthiest is Granite Bay and parts of Loomis. Both in Placer County, north of Sacramento. In Sacramento probably around Gold Country and around the 40's (Mid Town).

Will the California housing bubble burst? ›

Most economists believe that a real estate market crisis or collapse will not occur in 2021 or 2022. According to some industry experts, the most likely scenario is that home prices will begin to climb more slowly in the months ahead. And that is exactly what we require right now.

Are homes in California overpriced? ›

High Housing Costs

That inflates home prices and rents, making it even harder for lower-income people to afford housing here. California has a median home value of over $800,000 — nearly double than the national average.

What is the best date to close on a house? ›

The closing date you choose for your home purchase matters because it determines some of the expenses you pay at closing. For most home buyers, closing at the end of the month is ideal because you'll pay less interest upfront.

Is Sacramento a small market team? ›

Top 30 NBA Players in 2022-23.
Small NBA Markets (less than 1.5 million homes)
TeamTV Market Size*Metro Population**
19. Sacramento Kings1.459M2,363,730
20. Portland Trailblazers1.315M2,492,412
21. Charlotte Hornets1.291M2,636,883
22. Indiana Pacers1.183M2,074,537
6 more rows

Is it good to buy house during recession? ›

Buying a home during a recession can sometimes be a good idea — but only for people who are lucky enough to remain financially stable. Mortgage rates may drop as the Fed tries to help the economy recover, and with fewer qualified buyers and less competition, home prices can drop as well.

Is Sacramento a small market? ›

As a small market, Sacramento has faced enormous adversity, first in landing an NBA franchise and then maintaining that franchise through both good and bad economic times. The one constant has always been incredible community support, as the Kings have sold out all of their games in 19 of 27 seasons in Sacramento.

Will the housing market crash with inflation? ›

Home values may waver

However, as high inflation costs press down on buyers, it could depress home values. Although he doesn't expect a major housing market crash, Buehler says he sees home values flattening out as inflation nestles into the housing market.

Is Portland safer than Sacramento? ›

Crime in Portland and Sacramento

According to Neighborhoodscout, Sacramento has a 27% higher crime rate than Portland – however, Numbeo suggests both cities have comparable crime as of December 2021.

Where are homes most overvalued? ›

The most overvalued markets to purchase a home tend to be in California, but also include Seattle, Washington, and “Zoom towns” such as Boise, Idaho, and Greeley, Colorado. The most overvalued markets to rent a home are mostly found in California and Florida.

Are home prices going down in Northern California? ›

Northern California Home Prices

❱ Higher financing costs continue to impact sale prices. The average price of a home sold in the region dropped 5% from the same period in 2021. Sale prices were 6.6% lower than in the third quarter of 2022.

Is the Sacramento area growing? ›

The metro area population of Sacramento in 2022 was 2,186,000, a 1.44% increase from 2021. The metro area population of Sacramento in 2021 was 2,155,000, a 1.51% increase from 2020. The metro area population of Sacramento in 2020 was 2,123,000, a 1.63% increase from 2019.

Are home prices in the Bay Area going down? ›

The housing prices in Bay Area dropped in January 2023. According to current trends, housing prices in the majority of Bay Area communities will decline over the next twelve months. Zillow projects a decline of 4% in Bay Area home prices between January 2023 to January 2024.

Will California home prices go back down? ›

California's median home price is forecast to decline 8.8 percent to $758,600 in 2023, following a projected 5.7 percent increase to $831,460 in 2022. Housing affordability is expected to drop to 18 percent next year from a projected 19 percent in 2022.

Are California house prices dropping? ›

Redfin data for the California housing market shows that home prices fell 4.2 percent from December 2021 to December 2022. The state's median home price sat at $707,500 in December, and 21 percent of homes saw a price drop over the course of 2022.

Will house prices fall in 2023? ›

Zoopla said it expects house price falls of up to 5% in 2023. Property consultancy company JLL has forecast house prices in the UK will drop by 6% in 2023. While housing expert and buying agent Henry Pryor says he expects house prices to slip slowly through the year ending 2023 down by around 10%.

What is the slowest month for real estate sales? ›

Sellers can net thousands of dollars more if they sell during the peak months of May, June and July versus the two slowest months of the year, October and December, according to a 2022 report by ATTOM Data Solutions.


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