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Median price of Sacramento CA home sales are up 3% from one year ago.

The Sacramento Association of REALTORS(r) June, 2012 sales numbers show the median price of a home is up 3% from one year ago. In addition, new home sales and traffic are up, demand for resale homes is up, but inventory numbers are down.

PRLog - Jul. 12, 2012 - SACRAMENTO, Calif. -- The Sacramento real estate market is shifting: The median price rises 3% in June compared to last year, today mortgage rates hit historic lows, there's only a 3-week supply of houses for sale,  new home builders report a 68% increase in sales, what's going on?

The median price of a Sacramento home is now $170,229 compared to $164,900 in June, 2011. The rise in the median price is because increased demand for resale housing coupled with a very low 3 week supply of houses has forced prices upward.

For buyers this remains a great buying opportunity since prices remain well below the peak of the market in 2005 and mortgage rates are super-low. But buyers will probably be faced with competition for the best buys.

For sellers who have been putting off selling because prices were too low, they're now encouraged to call a real estate broker and re-look at what's going on with recent sales in their neighborhood.

It's hard to say if this is a beginning of a turnaround for the real estate market, but the signs seem to be pointing in that direction.

David Jurewicz, Sacramento real estate broker talks about the forces driving these powerful market shifts in his latest video at: http://youtu.be/pRIclMl_SlQ

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Source:Home Rocket Real Estate(r)
City/Town:Sacramento - California - United States
Industry:Real Estate
Tags:Real Estate, Market, inventory, Mortgage, Home
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