Inventory continued to increase over the four-county Sacramento region this week, hitting another all-time record high of 18,716:
At the same time, pending inventory in Sacramento County hit a four-month low of 791, or a mere 6.3 percent of market:
The market slowdown continues as inventory levels are hitting records.
Flippers continue to suffer as inventory builds across the region. The recovery trends we saw earlier this year in El Dorado and Yolo Counties are reversing, as more flippers find themselves in trouble. Sacramento and Placer County flipper positions are deteriorating faster than before, with one in six and one in five flippers in the red, respectively. This number is probably far worse, as discussed here on my Flippers In Trouble blog.
Inventory continued to pile up in the four-county area, with $200K-$400K range showing the largest increase over the past three weeks. 
I should have anticipated the popularity of this feature, so I’m giving it its own blog. You’ll now find a new gallery once a week over at:
flippersintrouble.blogspot.com
I updated it for today for four counties, now with over 200 listings. I’ve also added links to Google Maps. If you ever needed proof that it’s possible to lose money on real estate, I’ve got it for you.
You heard it here first, folks. The four-county Sacramento region inventory now stands at 18,114, exceeding the population adjusted record of 17,913 (as calculated by oc_renter at Bubble Markets Inventory Tracking) by 201. We are also within striking distance of another record based on the increase in the total number of housing units. We are in uncharted territory. Sacramento has never seen this level of inventory, ever. And it keeps going up.
Another big story is the continuing erosion of pending activity in Sacramento County. Pending levels have dropped again w-o-w, to 8.9% of total inventory, or 1,120 out of 12,608 listings:
So, inventory is at record levels, and pending sales are dropping. One thing is for sure: this can’t be good for the market.
Here it is folks, the Flippers in Trouble Gallery. As of this writing, there are over 300 houses for sale that were bought once before within the last two years, and are being sold for less than what was previously paid. While that is a small fraction of the over 17,000 listings in the region, keep in mind that these are people losing money on an investment, not people who owe more than what they paid. These are the flippers who were left without a chair when the music stopped, and are willing to take a loss in order to get out of the market.
Since Blogger’s capability would be stretched by 300+ listings, I’m only publishing the first 100 at this time. You get the idea. :)
A word about data: These data are derived by comparing MLS listings to publicly available previous house sales records. If you wish to search previous house sales for the Sacramento area, the Sacramento Bee is a good place to start.
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