Sacramento Housing Market Recovery Gaining Momentum

The Sacramento area residential housing market recovery appears to be gaining momentum.

The Sacramento Association of Realtors reports the median home sale price increased more than 8 percent from April to May this year, and 42 percent from May of 2012.

The median home sale price last month was $240,000.  A year earlier it was almost $169,000.

The number of short sales dropped more than 26 percent in a year-to-year comparison. The number of bank-owned property sales dropped more than 75 percent.

The median number of days a home was on the market dropped to 9 1/2.

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