Michael Strech, the BIA's President and CEO
New home sales in the greater Sacramento area continued their strong rebound from the interest rate shocks last summer, with month-over-month sales increasing by 41% in February, the North State Building Industry Association reported.
Michael Strech, the BIA's President and CEO, cautioned that more market fluctuations are possible as the Fed signals it may continue to raise interest rates, but said the continuing robust rebound demonstrates the fact that demand for new homes in the region remains strong.
The BIA's sales figures cover Sacramento, Placer, El Dorado, Yolo, Yuba, Sutter, Amador and Nevada counties.