There's good news and bad news in a new housing forecast out Wednesday, depending on whether you already own a home in the Sacramento area or are trying to buy one.
Sacramento-Roseville-Arden Arcade is ranked fourth on Realtor.com's new list of the nation's top 10 housing markets in 2017, behind the Phoenix, Los Angeles and Boston regions.
The online real estate site projects Sacramento area housing prices will increase by just over seven percent next year, good news for homeowners. It means their property values are going up. But it's bad news for would-be home buyers who can't afford to get into the market.
The latest data show median home prices in Sacramento County at more than $300,000 in September, up 11 percent from a year ago. Meanwhile, the Realtor.com forecast predicts home sales in the region will go up by five percent next year. It says a strong local economy and population growth will fuel the region's housing market.
Photo Courtesy: American Advisors Group
Follow us for more stories like this
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.