Report: Sacramento region new home sales well above average

Robert Summa, Appeal-Democrat, Marysville, Calif.
Updated ·2 min read

Sep. 19—New home sales in the Sacramento area continued to grow in August with sales in the eight-county region reported to be well above the average typically seen during the month, officials with the North State Building Industry Association said Tuesday.

In Yuba County, builders reported 32 new home sales. In Sutter County, three new homes were reported to be sold. In July, Yuba County builders reported 27 new home sales and Sutter County builders reported four new home sales.

In 2022, 17 new home sales were reported for Yuba County and five were reported in Sutter County.

With a total of 573 homes reported to be sold in August this year throughout the Sacramento region, officials with the North State Building Industry Association said that figure is 44% above the average August sales figure of 399. It's also 154% higher than the 225 sales reported in August 2022 and 15% above July's total of 498.

"Sales during the month were the second-highest August since the housing boom year of 2005, behind only the 633 sales in 2020 during the pandemic," officials said.

North State Building Industry Association President and CEO Michael Strech said the growing and "robust" sales figures represent the clear need for more housing in the region. Strech also said new home builders are offering incentives to buyers that existing homeowners cannot match.

"One reason sales remain much higher than usual for this time of year is the sharp decline in the number of existing homes on the market and the fact that builders can often offer below-market financing and other incentives to increase affordability," Strech said in a statement. "That said, it's also a clear indication that supply needs to expand dramatically to bring the market into balance, and that won't happen unless policymakers make more land available for development, speed the review process and reduce the fees that add an average of $100,000 to the cost of each new home."

New-home communities in Sacramento County accounted for the largest number of sales in August with 262 sales reported. Among 194 communities in the region that the association represents, builders in Roseville reported the most new home sales with 167.

In Yuba County, Plumas Lake saw the most new home sales in August with 23 reported.

The North State Building Industry Association's sales figures cover 194 active new home communities in Sacramento, Placer, El Dorado, Yolo, Yuba, Sutter, Amador and Nevada counties, officials said.