Sacramento-area Home Prices at Lowest Levels in at Least Two Decades
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Hudson Sangree and Phillip Reese, sacbee.com, Apr. 8, 2012
Median prices for new and existing homes in the Sacramento region, adjusted for inflation, have dropped to their lowest levels in at least two decades – even below the doldrums of the last housing bust in 1995
Sacramento-area homes are cheap. Interest rates are low. The inventory of new homes is tight.
But prices stubbornly refuse to rise.
"It's a very strange time," said Doug Covill, immediate past president of the Sacramento Association of Realtors. "I question if we've ever seen anything like it before – to see this low of an inventory where values aren't going up."
The gains of the housing boom have been erased – and then some.
Median prices for new and existing homes in the Sacramento region, adjusted for inflation, have dropped to their lowest levels in at least two decades – even below the doldrums of the last housing bust in 1995, according to a Bee review of data from CoreLogic, a real estate tracking firm. ...
Read more here: http://www.sacbee.com/2012/04/08/4398318/sacramento-area-home-prices-remain.html
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