Friday, April 21, 2006

Appreciation at Lowest Level since June 2000, "For Sale" Sign Business Booming

The latest from the Sacramento Bee.

In the newest indicator that the region's long red-hot frenzy cycle has ended, year-over-year price appreciation dipped into the single digits in all but El Dorado County. There, March sales prices remained 13 percent above the same time a year ago, while Placer County prices were 6 percent higher than March 2005, according to DataQuick.

March sales prices in Sacramento and Yolo counties were still 8 percent higher than the same time last year. But for Sacramento County, the largest player in the region's real estate market, 8 percent was the lowest year-to-year gain since June 2000 vs. June 1999...

"My guys are telling me we are building 30 to 40 new signs a day," said Jim Eggleston, owner of The Sign Post, a Sacramento firm that builds front yard "For Sale" signposts for the region's real estate listings. "Where it's going is the big question," Eggleston said. "Are we going to reach 15,000? Are we going to reach 20,000? I don't know."

1 comment:

Anonymous said...

This is hillarious! I've thought about more business for repo guy, locksmiths, bankrupcty attorneys, etc. as this bubble bursts, but the guys who make the for sale signs! Priceless.