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Home prices in Sacramento leap in April

Published: Tuesday, Jun. 4, 2013 - 2:45 pm
Last Modified: Thursday, Sep. 12, 2013 - 9:20 am

Home prices across the Sacramento region increased by nearly 23 percent in April compared with the same month a year before, CoreLogic reported today.

In one month, from March to April of this year, home values jumped more than 4 percent in the four-county Sacramento region, the Irvine-based real estate information service said.

That figure includes short sales and foreclosures. Excluding distressed properties, home prices in Sacramento increased by almost 22 percent from April 2012 to April 2013 and by nearly 5 percent from March to April of this year, CoreLogic said.

Price appreciation in Sacramento outstripped the national average of about 12 percent from April 2012 to April 2013. It also outpaced the statewide average of more than 19 percent during the same period, the firm reported.

Many of the areas hit hardest by the housing crash have rebounded the most. The five states with the greatest price appreciation in the latest CoreLogic report were Nevada, California, Arizona, Hawaii and Oregon.

The Sacramento turnaround has been driven by low supply and high demand from investors and traditional home buyers, along with record low mortgage rates.

Call The Bee's Hudson Sangree, (916) 321-1191.

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