Pretty cool to be in the New York Times today. It’s a piece about tech companies, and I shared some thoughts about tech home flipping. https://t.co/RZOpEQIjET

I mention this because I’d love to see actual numbers as we compare and contrast back then versus today. I think sometimes the discussion doesn’t concede just how lopsided the market was in those days. Not sugarcoating today’s market either.

There is so much talk comparing today’s housing market with 2008, but we often don’t see actual stats in the conversation. Compared to today, 2008 had about 8,600 more active listings in the Sacramento region. That’s one big reason why prices were able to go down so quickly.

Sellers are still listing too high. The average price reduction for recent pendings in the Sacramento region was 5.4% from the original price. Yet, about half of pendings didn't need any reduction before getting into contract. The price has to be right today for buyers to bite.

This is my last market update of the year, and there is so much to talk about. This is a free Realtor lunch & learn with catered food and limited space, and you must register at the link. Thanks @safecu for putting this together. https://t.co/0E0GmH8adm

And here’s what it looks like for new listings in November.

Sellers have pumped the brakes. For the past couple years, sellers have been thawing out by listing more, but sellers have backed off a bit since April. In fact, for four months in a row in the Sacramento region, we’ve seen a lower number of new listings compared to 2024.

Lots of equity built through the years. Some questions for sellers. - What can you do with your equity? - Where do you want to be in life? - If you think the market is going down, where do you want to ride it down?

This week we crossed over 30,000 sales in the wider region. On a week of giving thanks, this seems like something to be thankful for. What stands out to you?

Doing a little woodworking with my son. He is on the lathe, and I’m making some hearts from used skateboards. I picked these up on Facebook Marketplace a few months ago. They are cut, but not glued yet. Kind of a cool project, right?

This weekend sort of kicks off the low point of activity. December is historically the annual low for the number of new listings and pending contracts. There will still be transactions happening, but many people are hibernating from real estate awaiting the spring.

There were only six new listings that hit the market yesterday in the Sacramento region. Thursday is usually the highest day of the week for listings, but it was Thanksgiving, and people were thinking about mashed potatoes instead of real estate.

Both sons are contributing something to the Thanksgiving table today. Oldest is making deviled eggs and mac & cheese while youngest is making bruschetta. Appreciate these guys. Don’t sleep on Gen Z.

Happy Thanksgiving from my family to yours. We did Run to Feed the Hungry this morning.

Skateboarding progress. Relearning some tricks. I actually had a dream about grinding last night, and I woke up knowing I could go do it.

“Aunt Sally, your green bean casserole is just like the market. Nobody at the table wants it, and that’s exactly what is happening with sellers who overprice their homes.”

Pass the turkey to the guy with a 2.6% mortgage rate. Some housing conversation for the Thanksgiving table tomorrow. You know, just in case conversation is dull and you need to spice things up. Ha ha. Joking aside, have a wonderful Thanksgiving.

We’re seeing Erasure tonight. Technically it’s Andy Bell, the lead singer. It’s funny because conversation with friends in the car was so different tonight than it would have been in the 90s. No way we would’ve been talking about medical insurance back then. Ha ha.

And some stats for closed sales in November so far. I'm working on a spreadsheet that spits out these images. I wanted to debut it by Thanksgiving, but hopefully next month. Stay tuned.

About 60% of pendings didn't need a price reduction before getting into contract in the Sacramento region, but 65% of closed sales have sold below the original price in November. This shows us buyers are getting in below the asking price more regularly.

Half the homes in the country lost value since last year. This is a big headline from Zillow, and I want to unpack that today. And I have some conversation topics in case you want to bring up housing during Thanksgiving dinner. Ha ha. https://t.co/ep8k5qmKeu