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Sacramento Housing Market Bounces Back After Slow January

Andrew Nixon / Capital Public Radio
 

Andrew Nixon / Capital Public Radio

The Sacramento housing market is growing again after a sluggish start to the year.

Home sales in Sacramento County and West Sacramento plummeted 30 percent from December to January. But new data from the Sacramento Association of Realtors show the market is bouncing back.

Sales in February rose 20 percent; pending sales jumped nearly 40 percent.

Sacramento Association of Realtors President Ron Greenwood says the average house only spends a month on the market.

“In fact, I've seen houses come on within a day or two and they had multiple offers. That's driven by price, condition, location - the three big things. If a house is priced right in a good area and it's in a good condition, it's not unusual to see multiple offers," Greenwood says.

The Sacramento housing market also grew compared to the same month last year, with sales up more than 10 percent and pending sales up 20 percent. The average price of the homes sold in February is up nearly 10 percent both month-over-month and year-over-year.

Ben Adler

Capitol Bureau Chief

Capitol Bureau Chief Ben Adler first became a public radio listener in the car on his way to preschool – though not necessarily by choice. Now, he leads Capital Public Radio’s state Capitol coverage, which airs on NPR stations across California.  Read Full Bio