Flippers, Move-Up Buyers Flock to Sacramento Market, Foreclosures Down

Flippers and move-up buyers are out in force, and foreclosures are shrinking to an increasingly minor part of Sacramento’s housing market, DataQuick said Thursday.

The May housing report from the real estate tracking firm said the median price of a resale house in Sacramento County rose a stunning 42 percent over the past year.

The median is the point at which half of homes sell for more and half sell for less. In Sacramento, the median’s striking gain in recent months reflects both price appreciation, driven by limited supply and strong demand, and a change in the mix of homes sold.

Read more here: http://www.sacbee.com/2013/06/13/5495649/dataquick-flippers-move-up-buyers.html#mi_rss=Our%20Region#storylink=cpy

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