Sacramento-area new home sales slowed during the first three weeks of February before coming back strong during the last week of the month, the North State Building Industry Association reported today. Tim Murphy, the BIA’s President and CEO, attributed the late-month surge in part to mortgage interest rate trends.
“As markets adjusted to the presidential transition, interest rates ticked upwards to a little over 7% in mid-January and then gradually eased downward,” Murphy said. “That decline accelerated in the latter part of February, which likely accounted for higher sales at the end of the month.”
BIA member builders sold 521 new homes in the seven-county region in February, which was above the average for the month (505 sales) but below February sales totals reported in recent years. Sales were down 32% from February 2024 (partly because that year was a five-week month) and down 21% from January (again, partly because that, too, was a five-week month). More details are available in the charts below.
As mentioned, however, sales rebounded from 114 in the third week of February to 148 in the last week of the month – which was the best weekly sales total since the end of last August.
New home communities in Sacramento County reported the highest number of sales in February with 269, due largely to the fact there are far more open communities there than in other parts of the region. Placer County finished in second place with 154, followed by Yuba County with 49. Including adjacent Sutter County, the region reported 57 sales in all.
As is often the case, Roseville reported the most sales of any submarket with 80, followed by Rancho Cordova and Elk Grove, tied with 56 each. Sacramento was fourth with 33 and Plumas Lake fifth with 27. Rocklin came in sixth with 21, followed by Folsom (20), Natomas (17), and Lincoln and Antelope, which saw 14 sales each.
BIA statistics include sales by members in Amador, El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties.
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