Business & Real Estate
- Published Date
- Written by Los Altos Town Crier Staff - Town Crier Report
California’s recovering economy – with higher home prices and fewer distressed sales – has shifted investor interest to properties outside the Bay Area, where they hope to find better deals.
The California Association of Realtors 2014 Investor Survey reports that 15 percent of investors purchased properties in Northern California in 2014, down from 27 percent in 2013. In 2014, 40 percent of investors purchased properties in Southern California, down from 50 percent last year. Nearly half (45 percent) of investors purchased properties in Sacramento, San Joaquin, Fresno, Kern, Merced and Tulare counties, up from 27 percent in 2013.