As the hard hit Sacramento housing market makes a slow comeback to life; it seems as though it's the investors that are coming out on top for home purchases.
Today, inventory levels are lower which is not only creating bidding wars between buyers; it's also pushing up home prices. As buyers struggle to compete for properties, it's great for sellers who have been in need of good news for some time now.
Just this week the Sacramento Association of Realtors released a survey showing the median price of single-family homes in the Sacramento County region increased to $165,900 this past March which is up 1.8 percent from $163,000 set in February. Furthermore, there's been a 20 percent increase in home sales for the same time period between February and March.
According to the SAR survey the largest share of home sales were between the price ranges of $200,000 and $249,999. Foreclosures and short sales still dominate the region with only one one-third of all sales being conventional home sales.