If forecasters are correct, the Sacramento region is about to become one of the hottest real estate markets in 2017.
Realtor.com released its 2017 Housing Forecast earlier this week, and predicted Sacramento will be the nation’s fourth-hottest housing market next year based on price appreciation and sales growth.
Sacramento home prices will increase 7.2 percent in 2017, according to the forecast, while the volume of home sales in the region is expected to grow 4.9 percent.
The forecast ranked Sacramento behind only Phoenix, Los Angeles and Boston in the ranking of the Top 100 markets.
While the same forecast predicts an overall slowdown in the national real estate market compared to the last two years, the Western U.S. will stay hot in price and sales growth. Western markets make up five of the top 10 and 11 of the top 25 on the list, including five in California.
Predicting large-scale, national housing trends can be a tricky business, and skepticism exists among industry leaders on the overall pace of growth in the Sacramento market. But the key economic indicators continue to show continued growth, making the timing right for investment.