SACRAMENTO HOUSING MARKET INSIGHTS Robert Langston
R
eal estate investment is a worthy investment. With good preliminary research, a plan, and the right prices, anyone can be a savvy real estate investor. If you are looking to invest, the Sacramento housing market may be the right place to start. It is a good market area with huge growth potential. It is also the capital of the State of California, though most people mistakenly take LA to be State’s capitol. Sacramento is home to over 500,000 people. Nonetheless, it is usually overshadowed by the large cities surrounding it like San Francisco and Los Angeles, and most people often do not know about the investment potential of these cities. Taking into account other suburbs like the Yuba
City, Truckee, Roseville, and the South Lake Tahoe, the Sacramento real estate market contains around two million people. But is size a consideration to make when investing in real estate? No! Take an example of the Detroit market, which has risen and fallen, and the current decline of the rust belt cities are a true testament to this. As such, there are several reasons that you should be considering when looking to invest in any real estate market. In the latest quarter, the real estate market in Sacramento appreciated at 1%. If this appreciation rate holds, the annualized appreciation rate could be 4%, which triggers interest in the areas housing industry. The current median home value in the Sacramento housing market, according to Zillow, is $362,400, and it is a sellers’ market. This simply means that there are currently a lot more qualified buyers in the market than there are the sellers. Over the last year, home prices in the region have risen by 5.2%. Since 2015, the median home price in Sacramento has increased from $235,000 to $365,000.
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