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Sacramento Rental Market Update Summer 2013
The Sacramento rental market has remained quite strong this summer. HomePointe's overall vacancy rate stood at 3.8% on June 30, 2013. This rate is slightly over stated since it includes many new accounts that come to us vacant. A 5% vacancy rate is considered even handed. Anything below is a landlord's market. The interesting thing is that normally rents would start to rise soon after the rate dips below 5%. But, in this case there is plenty of replacement inventory coming to market from the institutional investors keeping rents in check.
Sacramento has been experiencing price appreciation in the 20% range recently. That is good news but we have a long way to climb from the lows of the recession. This correction was anticipated. Appreciation should remain, probably at a lower rate, as long as interest rates remain low. Although you still might take a hit from prerecession prices, this is a good time to sell. As stated above, it is not a bad time to hold too. So, unless you have a place to earn a higher return, keeping at least some of your assets in real estate makes sense.
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