January Roundup #2: More Listings Expire, Sales Down Again

More bad news for the Sacramento housing market? Real estate agent/blogger John, over at the Sacramento Real Estate Blog, just posted some January information about the Sacramento County real estate market.

Several interesting points:

• Inventory supply is over 7 months now. Correct me if I'm wrong, but isn't anything over 6 months supposed to indicate a buyer's market?
• Residential sales are down 34% from last year.
• The expired to sold ratio is way up, similar to December. It is impressive that inventory also appears to have increased in January despite so many homes dropping off the MLS list.
• Median sale price is up 9.5% from last year. Correct me if I'm wrong, but it seems that this is the first time in several years that year-over-year appreciation has not reached double digits.