The Sacramento area ranked No. 3 on a national list of top home sellers' markets, according to the latest rankings by Seattle-based data tracker Zillow.
California markets dominated the top of Zillow's latest list measuring locally strong demand, with San Jose and San Francisco coming in first and second, respectively. The top 10 also included Los Angeles, San Diego and Riverside.
The top three buyers' markets were Chicago, Cleveland and Philadelphia. No California markets cracked that top 10.
"Many of the strong-est sellers' markets are in areas that were hardest hit by the housing bust, places like California, Nevada and Arizona, which may seem counterintuitive," said Stan Humphries, Zillow's chief economist. "But much of that strength is driven by investor interest as many distressed and non-distressed homes are purchased and transformed into rentals."
Within the Sacramento market, North Highlands was the top sellers' market, followed in order by Orangevale, the city of Sacramento, Rancho Cordova and Elk Grove. Regionally, Auburn was the top buyers' market, followed in order by Granite Bay, Placerville, Loomis and South Lake Tahoe.