Sacramento Has Greatest Increase in Home Sale Prices



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(Sacramento, CA)
Monday, July 22, 2013

The latest numbers from ZipRealty show Sacramento had the greatest increase in home sale prices in all 24 markets analyzed.

Even with interest rates rising a full percentage point, Sacramento saw a 42-percent home sale price increase in June compared to last year.

The median price of a home was $235,000, up from $166,000. ZipRealty President Lanny Baker says Sacramento’s home price rise was three times that of other markets.

 “In Sacramento, we’re looking at more than a third of the housing is selling in less than seven days," says Baker. "And when houses are selling at their listing price and selling really quickly that’s a real encouragement.”

Baker says investors in Sacramento that were once paying cash for housing stock are now focusing their attention on the east coast.

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