Whatever the explanation, median sales prices of existing homes are stabilizing in the $160,000 range so far this year in Sacramento County.
– Jim Wasserman, “Capital-area home prices stop slide, for now”, The Sacramento Bee, May 22
Just like in Phoenix, we’re starting to see a lot of activity at the bottom of the housing market – in entry level homes, especially foreclosures:
- Volume was up year over year for the 13th straight month in Sacramento County with 64.6% of all sales being foreclosures.
- The median price of an existing home in Sacramento County appears to be stabilizing around $160,000.
Also see “Signs of a Bottom In Sacramento Area Housing Market”, Top Gun FP, May 5, 2009