Trulia Sacra…, Home Buyer in Sacramento, CA

With a 21.7% rise Y-o-Y in asking price, Sacramento is in the top 4 metros for biggest jump in price compared to this time last year.

Asked by Trulia Sacramento, Sacramento, CA Thu Apr 4, 2013

Does your local Sacramento neighborhood reflect the same price jump?

Check out more info on price jumps here:
http://trends.truliablog.com/2013/04/trulia-price-rent-monit…

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Answers

2
Eddie Martini’s answer
Placer County (Colfax to Roseville) is also experiencing this price increase. I did not expect this FAST of a market shift but things are in a MUCH better situation then this time last year in the market as a WHOLE. What I mean by that is the lack of inventory and large increase in buyers has allowed Spec and Tract Home builders to get back in action and start producing new products from consumers to buy. This stimulates not only the Lending and Real Estate markets but all of the Sub-Contractors are busy again. With more people getting back in business it will also stimulate the local economy and help get more and more industries back on their feet and in a prosperous situation.
Home Owners who I helped purchased in 2008-2010 can actually sell at a profit in most cases and can upgrade their living situation while keeping their mortgage payments around the same.
0 votes Thank Flag Link Fri Apr 5, 2013
It's a matter of supply vs. demand: a simple economic concept.

However, what is NOT simple is when/how much the price will adjust when mortgage rates rise. I believe this to be a window of opportunity for sellers. I believe the prices will drop again when inflation can no longer be controlled by the FED keeping rates low. That will be when the foreign entities withdraw their investments from our markets becuase of lost confidence in the dollar.

The current prices are amazing us every day, coming in over comparable sales records. There's no easy way to map it. But the key for a buyer is to focus on monthly affordablity in any market.
0 votes Thank Flag Link Thu Apr 4, 2013
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