Home prices in Northern San Joaquin Valley are seeing rising bids due to Bay Area investors and long-distance commuters, as reported by Hudson Sangree over at Sacbee.com.
Stockton, Tracy, and Lathrop saw increases in their median home prices between August 2012 and August 2013, with Lathrop’s medium home price increased by nearly 50 percent.
Familiar factors are driving up Sacramento-area home prices. As well as “a growing number of buyers from the Bay Area, where homes cost two or three times as much as homes in inland areas,” reported Sangree.
“Experts said the same factors have driven up Sacramento-area home prices in the past year – heavy investor activity, record low mortgage rates and tight inventory – are at work from Stockton to Modesto,” according to Sangree.
Prices are expected to continue rising “because there is more buyer demand than supply.”
Read “Bay Area investors, commuters driving up San Joaquin Valley home prices” for the full story.