Rental Market Update April 2013 Sacramento, CA

By
Property Manager with HomePointe Property Management, CRMC 00691121

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.

Posted by

Robert A. Machado, CPM, MPM

HomePointe Property Management

Sacramento, Yolo, El Dorado, and Placer Counties

We manage residential and commercial property.

916-429-1205 x 105

rmachado@HomePointe.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Sacramento County
Groups:
Investors
Posts to Localism
All things California
Tags:
sacramento rental market update

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
254,482

Robert Machado

CPM MPM - Property Manager and Property Management
Ask me a question
*
*
*
*
Spam prevention

Additional Information