Sacramento Real Estate Market in 2024

 

The real estate market in Sacramento is heating up this winter going into spring of 2024. Interest rates have remained in the high 6% range and even into the 7% range depending on the day / week. Prices are starting to increase already as evidenced but multiple offers over asking on properties in the greater Sacramento Area. As much as buyer want lower interest rates, buyers who have not yet purchased a home should hope they stay the same or drop very gradually. A gradual change in interest rate will avoid the pent up demand of buyers who are in the wings waiting to buy a home from flooding the market all at once. We DO NOT WANT A REPEAT OF late 2020-Early 2022. The market should grow on average about 5% this year if everything remains the same. That means as long as interest rates stay where they are, and no major economic or global events occur we should expect a sellers market with limited housing supply.

 

 

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