Wednesday, May 17, 2006

Sacramento Bee: "Spring is here. That rebound? Forget about it."

Wow!

Through a long winter of rain and discontent, when home sales plunged nearly 30 percent from a year earlier, Sacramento-area home sellers and real estate agents yearned heartily for a spring rebound.

Spring is here. That rebound? Forget about it.

In the most explicit sign yet of the continuing down cycle gripping home sales in the Sacramento area, median prices fell again in April in El Dorado, Placer and Sacramento counties, while home sales remained flat or fell behind those in March, according to information released Wednesday by DataQuick Information Systems, a La Jolla-based real estate researcher...

• April's sales of 2,212 homes in the four-county area were the lowest for that month since 1998.

• A 36.7 percent year-over-year decline in home sales for the month was the biggest drop since April 1991.

• A 1.9 percent gain in Sacramento County median home values from April 2005 to April 2006 was the lowest since October 1997.

1 comment:

Happy Renter said...

1.9 damn! So close. Oh well,
August will be a train wreck non the less.

I guess we can expect some declines in the chice neighborhoods though.:)