CA: Sacramento Home Prices Increased in March for First Time in Two Years

Sacramento Real EstateIt may mark only a faint spark of hope for homeowners, but housing experts think the small uptick in Sacramento home prices reported Thursday could be a sign the long fall is over.

In March, Sacramento County saw a 1.3 percent increase in the median resale price of detached single-family homes compared with March 2011, San Diego-based DataQuick reported. The median price rose from $160,000 a year ago to $162,000 last month.

That may not sound like much. But it was the first time in 20 months that Sacramento home prices stopped falling year over year, the real estate information service said. The last time prices rose was in July 2010, when buyers rushed to finish purchases before federal and state tax credits expired.

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