H
ome prices in Citrus Heights have remained relatively stable, mirroring regional trends, according to Sacramento-based real estate expert Ryan Lundquist. However, signs of change are emerging, and opinions on the future of the housing market vary between buyers and sellers.

    In a recent blog post, Lundquist compared the current market to "Back to the Future," saying that sellers are stuck in the past while buyers are looking ahead. He noted that buyer activity has cooled due to economic uncertainty, leading to fewer contracts being signed. This is reflected in the growing gap between active listings and closed sales.

    In May 2024, there were just 52 active listings in Citrus Heights, but this year that number has jumped to 90. Buyers are expecting a market similar to 2007, while sellers think it's still 2021. Lundquist addressed buyer concerns about a possible housing market crash like the one in 2007 and 2008, pointing out that the current supply is nowhere near as high as it was then.

    Homes throughout Sacramento County and surrounding areas are taking longer to sell due to fewer buyers, which is softening pricing power. Citrus Heights has mirrored Sacramento County's trends during the years of 2007-2009, with similar numbers of distressed property sales. However, Lundquist noted that Citrus Heights has outperformed the rest of the county in some areas, such as getting into contract faster and having more competitive lower price points.

    Despite this, there is still strong competition for well-priced homes, but weak competition for overpriced ones. Lundquist emphasized that the market is not crashing right now and that it's too early to build a doom narrative based on preliminary data from May. He plans to release final statistics in mid-June.