Well above-average new home sales in December pushed sales for the year to just under 7,000, making 2024 the seventh-best year for sales in the Sacramento region since the North State Building Industry Association began keeping records.
The BIA announced today that its members reported selling 398 new homes in December, bringing the yearly total to 6,993. That figure is up 8% from 2023 and is 35% higher than the average year since records began being kept in 1997.
BIA President and CEO Tim Murphy said area builders are optimistic that the market for new homes will remain robust in 2025.
“While mortgage interest rates remain higher than expected, there is still high demand for new homes, and we are optimistic that trend will continue into 2025,” Murphy said. “Many builders are able to offer incentives that make new homes more affordable, and the advantages of buying new are clearly a major selling point as well.”
December’s sales total was down 24% from November, which is normal as December is historically the slowest month for builders. Sales for the month were even with December 2023 and were 24% above the monthly average. As with sales for the year, it was the seventh-best December on record.
For the year, Rancho Cordova nosed out Roseville for the most sales with with 620, five sales more than the usual leader. Sacramento was third with 431, followed by Elk Grove (428) and Folsom (331.) See below for graphics putting sales into context for the month and for the year. Note that total sales for 2024 have been trued up by including statistics for a handful of builders that do not report on a monthly basis. Thus, the monthly figures and the annual total for 2024 are different.BIA statistics include sales by members in Amador, El Dorado, Placer, Sutter, Yolo and Yuba counties.
