Business & Real Estate

County home sales rose in December

Sacramento

After dipping in November, the number of homes sold in Sacramento County rose by more than 20 percent in December, CoreLogic DataQuick reported Thursday.

The jump was partly a result of a calendar quirk in November that made for fewer business days, said CoreLogic DataQuick analyst Andrew LePage. December typically has more closings than November as investors and others try to finalize sales for tax purposes, he noted.

But the county also saw a gain in sales volume of 3.5 percent in December compared with the same month last year, and the median sales price increased from $240,000 to $255,000 in the same period, LePage said.

It was only the second month in 2014 that Sacramento County posted an annual increase in sales numbers, LePage said. The improving economy and falling mortgage rates contributed to the growth, he said.

“The year-over-year (increase) is worth talking about,” LePage said. “We saw that across the state (in December). It was a trend.

“Part of that was the pickup in job growth, and we’re finally seeing the impact of rates dropping back to historically low levels (below 4 percent),” he said.

Call The Bee’s

Hudson Sangree, (916) 321-1191.

  Comments