Prices of existing homes in our area are still rising, reports the Sacramento Bee. However, according to numbers from market research firm DataQuick, the current rate of property value increases is slower than it was last year.
Other changes are also afoot in the Sacramento market. According to local television station FOX 40, more people are making home purchases with credit. Cash purchases are often made by investors, while mortgages typically go to families planning to live in the properties they buy.
"It's a positive indicator, because it says people have the income, they have the funds, and more important they feel confident about their economy right now, and they feel good about their jobs and their place," Ron Greenwood told the news source. Greenwood is the incoming president of the Sacramento Association of Realtors.
Last month, sales of existing single-family homes in Sacramento were up 12.6 percent over 2013. El Dorado County's prices were up 7.4 percent, and Placer County's were 5.8 percent higher than they were in June of last year.
Here were the median sale prices for June of 2014:
- El Dorado County: $349,000
- Placer County: $385,000
- Sacramento County: $259,000.
Overall, Sacramento and the surrounding communities have come a long way since the depths of the Great Recession According to online outlet DSNews, Sacramento's housing prices have risen 53.8 percent since the start of the housing recovery.
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