The Sacramento median home price continues to rise in July 2013...

Sacramento home values are still on the rise this month. The median home sale price was $250,000 for July 2013 in Sacramento County. This is starkly different from just a year ago as you can probably tell from the graphic here. In July I closed a personal record number of transactions, and my these transactions were on par with this trend -- selling for substantially higher prices than what these homes would have fetched last year in 2012. Compared to the home values in Sacramento County in August 2005 (the peak of the market) at $395,000, our current values are still a great bargain, and in general home affordability is really high among median wage earners in Sacramento. Is this level of appreciation sustainable? NO. But this has allowed many home sellers who were in short sale territory just a year ago to get out from under their homes and sell with equity! I have also noticed that many of the big cash investors who were purchasing homes at a fevered pace last year and early this year have slowed down -- but this is GREAT if you are a regular person trying to buy a Sacramento home in that you don't have to compete with those guys. Interest rates remain low, have definitely increased from earlier this spring. Given that we are entering a time of year when typically most folks seek to buy or sell homes, the next couple months should continue to be interesting.