Home prices across the Sacramento region experienced dramatic price gains in June compared with the same month a year before, real estate information firm DataQuick said today.
Placer County saw a record 32 percent rise in the median price of single-family resale homes from June 2012 to June 2013, the San Diego-based service said.
Sacramento County had a 41.2 percent price gain in resale homes from June to June. That was slightly off the record set in May, when the median price was 42 percent higher compared with May 2012.
The increases continue to be fueled by "super-low mortgage rates, a super-low inventory of homes for sale and record-high levels of investor activity," said DataQuick analyst Andrew LePage.
But those factors are starting to change, he said. Interest rates are creeping up, investors are backing off and more houses are going on the market as prices rise.
"It's unlikely that we would see these sort of gains last much longer," LePage said.
Call The Bee's Hudson Sangree, (916) 321-1191.