Sacramento housing market insights

Robert Langston

Real 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.

Zillow also indicates that the median list price per square foot in Sacramento is $235, which is lower than the Sacramento—Roseville—Arden—Arcade Metro average of $248. Of more importance to note is that according to Zillow, 8.1% of the listings in Sacramento had a price cut in Dec 2019, which is a good thing for the buyers.

Currently, homes in Sacramento are selling below their asking prices as the median price of the homes that have been sold out I $322,000. This shows that sellers are much more willing to negotiate on the prices of the homes as they were finding it more Foreclosures and Bank-Owned Homes Statistics According to data from Zillow, foreclosure data in Sacramento shows that there are about 0.8 homes that are foreclosed per 10,000. This is greater compared to Sacramento’s metro, which has a foreclosure rate of 0.4 and lower than the national average, which has a foreclosure rate of 1.2. additionally, you will find that the percentage of delinquent mortgages in Sacramento is 0.7%, lower than the national value of 1.1%. Since 2007 when the number of the U.S. home values were at their peak, they have fallen more than 20% nationally until troughing in late 2011. Most homeowners are underwater on their mortgages. This means that they currently owe more than their home is worth. In Sacramento, the percentages of the homeowners underwater on their mortgages are 5.6%, which is higher than Sacramento—Roseville— Arden-Arcade metro at 4.7%. Going by the data from RealtyTrac, there are currently 613 properties in Sacramento that are in at least one stage of foreclosure (default, auction, or bank-owned). While the number of homes that are listed for sale on RealtyTrac is 267, in the last quarter of 2019, the number of homes that received When it comes to renting, the median rent price in Sacramento is $1, 795, which is much lower than the Sacramento—Roseville—Arden-Arcade Metro area, which has a median rent price of $1,950.

The State has some of the most expensive metros, and cities and Sacramento home prices are among the most expensive in California. Just to give you a snapshot of the median home values in some of the neighborhoods of Sacramento, check out the

following data;

a foreclosure filing in Sacramento was 12% higher than the previous month and 33% higher than the same time last year.

Is it Worth to invest in Sacramento? Yes. Any investment in real estate is a worthy one. Investing in real estate is one of the best and easy way to build up wealth. Most people want to know, is investing in Sacramento’s property market a worthy investment? Well, to answer this, you need to delve deeper into the local market trends to find out what the future holds for the investors in this lucrative market. However, investing in Sacramento will give you a good return in the long run as homes in the region have been appreciating Y-o-Y.

To get more insights about this market, talk to Robert Langston, a real estate genius in Sacramento. Follow this link to find out more about Bobby https:// thepowerisnow.com/robert-langston/.

Sources;

https://www.noradarealestate.com/blog/sacramentoreal-estate-market/ https://www.redfin.com/city/16409/CA/Sacramento/ housing-market

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