While rising home values are a positive sign, too much growth too quickly can put fears of another housing bubble in residents minds. However, an easing of the market has assuaged those fears in Sacramento, according to the local CBS station.
Balancing the rise in home values, sales are up across the city, with 35.8 percent more houses on the market this year compared to a year ago. The average sale price was 8.9 percent higher than last year, but down compared to the 23.9 percent growth between 2012 and 2013 that had some concerned that a new housing bubble was forming.
Of course, Sacramento isn't the only place experiencing important growth in the real estate market. According to the source, home values are expected to rise 3 percent across the nation in 2015, with a 5.7 percent increase in Sacramento.
These changes continue to fuel a strong but balanced market, making it a good time for sellers and buyers. This trend is helping support the city's overall economy as well.
"The Sacramento market is experiencing mild economic growth, while the Bay Area is expanding at a more rapid pace," Steve Fleming, CEO of River City bank, said in a news release. "The rise in housing prices and fall in the unemployment rate over the past couple of years continue to be the bright spots for the Sacramento area."
If you are interested in buying California homes for sale in El Dorado, Placer or Sacramento County, or placing your home on the market, contact me, top real estate agent Jon Hesse. With more than $100 million in completed transactions and a decade working in the local market, I have the experience necessary to help you find your dream home at a price that works for your budget!