The Sacramento area is among the country's top five highest performing real estate markets, according to a new report out today.
Research firm Clear Capital's latest numbers through April show that home prices for the Sacramento-Arden-Roseville area increased 1.5 percent from the previous quarter and 9.2 percent from a year ago.
The data also show the saturation rate of foreclosures, short sales and other distressed property is way down. Clear Capital's Alex Villacorta says it's currently 12.2 percent.
"In the 2009-2011 era it was over 60 percent saturation rate, so more than two out of three transactions back at the worst of the crisis were being sold as distressed inventory," says Villacorta.
He says that's one reason home prices are going up - because there are fewer reduced priced bank-owned homes on the market. But Villacorta says prices will likely plateau.
"We do expect things to slow down," says Villacorta. "We are seeing that there is a flight from home ownership. We see a lot more renters out in the market."
Clear Capital ranks Sacramento has the fourth highest performing real estate market in the U.S., behind Seattle, Tampa and Orlando.