Are Rocklin Home Prices on Their Way Up?
Rocklin home prices are the highest they’ve been in two years! New stats show what I’ve been talking about for the last couple months. Rocklin home prices are up to $136 per square foot That’s over 12% more since just last month!
The reason Rocklin home prices are up is because we are in the midst of a mini seller’s market. Inventory is the lowest it’s been in many months. The low inventory creates competition, multiple offers, and higher prices for sellers.
Does this mean that Rocklin has recovered and home prices will stay up? Probably not. Last year the banks held back most of their foreclosure inventory and didn’t initiate foreclosures on thousands of homeowners behind on their mortgage. Experts say this year, the banks will release a lot more inventory. There is soon to be more bank owned homes on the market as well as short sales from sellers who want to avoid a foreclosure.
These higher Rocklin home prices are probably short lived. If you’re thinking about selling your Rocklin home, do it now before higher inventory drives values down.
Are Rocklin Home Prices on Their Way Up?\
Posted by Rocklin Real Estate Agent – Allan Sanchez