The Elk Grove Real Estate Market Has Changed
By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
I am an optimist by nature, but our Elk Grove market has changed in a remarkably short time.For a little perspective, active listings were at 124 on 5/8/22. Active listings are at 244 as of today (all those green dots in the picture). It is a 96.7 rise in inventory over a very short time. The supply change has come with a price drop of just over 3% month over month. While our current supply is not out of line with our historic supply numbers, our market has turned on a dime. The change started when the Fed decided to tighten.The Fed, "We have the tools for a soft landing when the time comes." Obviously, they were wrong when we consider the loss of wealth recently in the stock market, bond market, cryptocurrency market and the large costs of inflation.The Fed (and many others)-"inf...
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