Spring has sprung in Sacramento! The weather is nice and our citizens are outside more often than not. The Sacramento real estate market has taken quite a turn since last year. Prices are up and the recovery is in full swing. In January 2012 there were 2984 homes listed in the multiple listing service. In March 2013, that number has dropped to 1378. That is 54% less homes on the market! Demand is growing and listed homes are not keeping up. Values at the low end are increasing. The question now is, can you find a home at any price? In many cases the answer is no since
multiple offers are being made on lower end homes. The other aspect that is important is that institutional investors have been purchasing homes through the MLS and the court house steps (foreclosed homes). These investors are not flipping them as much, they are fixing them up and renting them. This is keeping a steady inventory of homes in the rental market which is keeping rents in check. The long view is that Sacramento real estate is looking like a good place to park your money right now.