In Yolo County, April sales increased slightly. April sales rose 4.6 percent over year-ago levels in Placer County. Though sales eased in April, the firm reports that the median price paid for homes regionwide rose sharply over year-ago levels. He noted that the Trendgraphix sales figures reflect escrows that closed last month, meaning that buyers struck those deals early this year, when the lower inventory could have restricted sales. Lyon attributed the recent sales declines to buyers taking more time to sort through more inventory.
Some agents say many sellers believe prices have peaked and now's the time to cash out.
Other market observers attribute the higher inventory to the eye-popping prices paid earlier this year. Anyone hoping to move up to a bigger house or better neighborhood is suddenly motivated to sell, they say. In Placer County, the total inventory of homes for sale rose 22.4 percent between March and April and increased 25.4 percent from April 2000, Trendgraphix reported. In El Dorado County, inventory rose 22 percent over March but was up less than one percent above year-ago levels. In Yolo County, April inventory rose 13.7 percent over March but fell 13.5 percent from a year ago.