Sacramento among worst housing markets in large US cities, study finds. See why

A Consumer Affairs report found that Sacramento ranks as one of the worst U.S. housing markets for large cities.

The city came in at No. 8 on the list of worst housing markets for buyers, the publication said in the March 26 report.

In an email, Consumer Affairs cited a limited inventory of homes for sale as one of the reasons for the poor ranking.

Sacramento had 613 homes listed for sale, or 114 listings per 100,000 residents, in January, the publication said.

Higher price points and affordability, with a typical 3-bedroom home valued at $450,354 compared to a median income of $91,387, also affected the ranking, the study found.

Just over 35% of homes sold for more than the asking price in January, the publication said.

How did other California cities fare?

Among large cities, San Francisco, San Jose, Los Angeles and San Diego all ranked below Sacramento as the worst markets for home buyers.

Across all sizes of cities, California filled out the top 10 for worst housing markets, with Berkeley topping the list, followed by Santa Clara, Sunnyvale, Glendale, San Francisco, Burbank, Inglewood, Oakland, San Mateo and Pasadena.

What are the best US cities for home buyers?

Cape Coral, Florida, topped the list of U.S. cities of all sizes as the best for home buyers.

Palm Coast, Florida; Surprise, Arizona; Lehigh Acres, Florida; Palm Bay, Florida; Sugar Land, Texas; Port St. Lucie, Florida; Boca Raton, Florida; Centennial, Colorado; and Carmel, Indiana, filled out the Top 10.

Most are smaller cities, with a greater inventory of homes for sale and more competition keeping prices down, the report said.