The Sacramento area was the sixth “hottest housing market” in the nation in March, according to realtor.com.
In March, the median time of Sacramento-area properties on realtor.com was 39 days, a significant change from a median of 53 in February. The national average for March was estimated at 69 days.
Realtor.com said the Vallejo-Fairfield area was the hottest market in the United States, with a median listing time of just 33 days. California had 10 of the top 20 hottest markets.
The monthly report cited continued trends of a limited number of available homes and steadily rising home prices.
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Javier Vivas, manager of economic research at realtor.com, said: “Low inventory continues to be a significant problem, but record-high prices are also keeping waves of buyers at bay.”