Report: Almost three-quarters of Sacramento homes sell in fewer than 30 days

Published: Wednesday, Feb. 6, 2013 - 2:08 pm
Last Modified: Thursday, Feb. 13, 2014 - 11:34 am

Sacramento homes are selling fast, often to investors paying cash.

In December 71 percent of homes sold in Sacramento County and West Sacramento had been on the market 30 days or less, according to the Sacramento Association of Realtors. That's the highest percentage of homes sold quickly since 2005.

Almost 40 percent of homes sold went to cash buyers. Realtors and would-be homebuyers have complained recently that investors are shutting them out of the market, especially for affordable homes.

The last time so many homes sold so quickly was during the housing boom, as buyers tripped over each other while pursuing the creative financing that eventually led to the bust.

The total number of homes sold in the county and West Sacramento in December was about the same as it was in December 2010, while the number of houses bought in 30 days or less was at its highest point since 2008.

Source: Sacramento Association of Realtors

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