"Fifteen years into the new millennium, we are finally seeing real potential that the market can support full buyer momentum, according to the recently released Home Data Index™ (HDI) Market Report from Clear Capital, with data through January 2015.
According to the data, 2015 has the promise of a transitional year where full buyer momentum in the low and mid tiers reinforces a strong housing recovery. Sustained national price growth in the lowtier segment, once driven by investor activity, is good news for firsttime homebuyers. Also encouraging, the number of potential moveup buyers, once locked into underwater mortgages, has been steadily decreasing. The recent rise in home prices continues to bring more homeowners out of negative equity. With more equity to play with, midtier homeowners could moveup, creating more opportunity and driving healthy demand in the low and mid tiers of the market."
The full article can be found here.
As far as Sacramento goes, i'm seeing similar signs. The lower tier market is pretty strong with a combination of both First Time Home Buyers and Investors. And i'm also seeing many current owners deciding to "Move-up" this year as well. The last 3 years has seen a large increase in value in Sacramento and many homeowners are now deciding to tap into that equity and move-up to a larger home or a better neighborhood in 2015 while mortgage rates are still extremely low.