Citrus Heights REOs Flood Market, Investors Circle Back
Impact of REO Properties on the Citrus Heights Market In the rapidly evolving real estate landscape of Citrus Heights, the influx of REO (Real Estate Owned) properties is reshaping market dynamics with notable urgency. This surge in REO inventory has grown from 52 to 90 active listings. The increased inventory intensifies market supply without reaching historical peaks. Typically, REO properties are priced below standard market values, which exerts downward pressure on overall home prices. As a result, this influx hampers price appreciation. In Citrus Heights, this dynamic parallels Sacramento County's trends during the 2007-2009 period, highlighting similarities in how distressed property sales influence current market conditions. Buyers now have increased leverage due to a broader range of options available, thereby shifting the market in their favor. Sellers who remain fixated on past valuations may face prolonged listing times. While overall home prices show minimal volatility...