Mortgage Company Hiring Shows Promising Signs Of Housing Market Recovery

SACRAMENTO (CBS13) - It's another indication the Sacramento region's housing market is surging, home loan companies are looking to hire more people to review home loan applications.

Paramount Equity Mortgage Company held a job fair Saturday, where 400 applicants were hoping to be selected to fill 60 positions.

"They put on a good show here. I heard them all over the radio and so I wanted to. We came in, wanted to see what they had going," said applicant Luis Silva.

In the past year, Sacramento home prices rose 26 percent, the second most in the country -- trailing behind Las Vegas' 28 percent.

UC Davis Prof. John Hunt says it's all a case of supply and demand.

"We have a low inventory and prices are going up now, which would suggest that we have more people looking for houses than trying to sell them at the moment," he said.

More people looking for homes mean more people are asking for home loans, a trend with which Paramount Equity is trying to keep pace.

"We're really looking for people that are professional, that have a desire to grow," a company spokesperson said.

One of the region's hardest hit by the housing bubble is bouncing back.

Applicants from the job fair are expected to hear whether they've been hired within two months and will either be stationed at the company's Rancho Cordova or Roseville offices.