Housing market stabilizes in Sacramento
A stable housing market is extraordinarily important when searching for a new home. For example, if home prices are continually fluctuating up and down, it might be impossible for a potential buyer to nail down a solid asking price. Real estate uncertainty used to be a problem for the purchasers of homes for sale in Sacramento, but improvements since the housing bust of 2006 have finally resulted in a more stable buyer's market.
The Sacramento Bee reported that the average home value of a single-family house in Sacramento rose for the fourth straight month in 2012, bringing the figure up to $162,000. Experts also cited the decreasing amount of foreclosures in the region as cause for optimism, pointing out that distressed sales made up only 42 percent of the market in April 2012, as opposed to 51 percent in 2011.
"North or south of zero by 3 percent is flat to me," real estate analyst Andrew LePage said, according to The Modesto Bee. "We're not seeing big declines anymore. Price stability is widening."
Since any housing market can change suddenly due to economic factors, a stable region like Sacramento should be a priority for anyone looking for a new home.