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Experts: Sacramento Real Estate Market Has Bright Future

Experts: Sacramento Real Estate Market Has Bright Future
Posted January 10th, 2014 @ 8:08am by KFBK News - Scot Murdoch

The future for the Sacramento real estate market is bright, according to some local experts. 

President of Lyon Real Estate Pat Shea told a breakfast gathering that despite forecasts from national firms saying the Sacramento residential market will slow down, he believes otherwise.

He cites numbers his company has seen, including a continued increase in the price of a home, the drop in the number of short sales and a continued increase in closed sales overall.

Rick Martinez of the CBRE Group says the region is also seeing more retailers move into the market, which means a continued decrease in vacancy rates. And he says most of that growth is being driven by the increase in mom-and-pop shops that are gaining more confidence from a growing economy.

This was all presented Thursday morning in Rancho Cordova at an event put on by the Institute of Real Estate Management of the Sacramento Valley and the Rental Housing Association.

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