Real Estate News

Region’s housing market gains momentum; inventory still lags

Look inside McKinley Village

The new urban village under construction along the Business 80 freeway in East Sacramento opened to the public in September.
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The new urban village under construction along the Business 80 freeway in East Sacramento opened to the public in September.

Despite limited inventory, the greater Sacramento region’s residential real estate market picked up steam in March, according to the latest report by Lyon Real Estate.

Lyon said 2,064 homes closed escrow in the four-county region last month, up 32 percent from February but 10 percent short of March 2016. The report said 2,887 new listings hit the area market last month, up nearly 50 percent from February and a gain of 13 percent from March a year ago.

The report includes activity in Sacramento, Placer, El Dorado and Yolo counties. Lyon’s report is based on data from the Sacramento real estate tracking firm Trendgraphix Inc.

City Councilman Steve Hansen says Sacramento and other communities where rents are rising need more housing assistance from the state.

Mark Glover: 916-321-1184, @markhglover

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