Sacramento Leads, Central Valley Follows
More "we're not as bad as Sacramento" talk, this time from the Fresno Bee:
Values of new and used homes in the central San Joaquin Valley in May were still considerably higher than a year previously, which was a sharp contrast to some other regions of the state, data released Tuesday show...Hat tip: Ben Jones. While Sacramento may be ahead of the pack, that doesn't mean the rest of the Central Valley is immune from the current downturn. A look at the DataQuick numbers shows that appreciation has cooled even in the "hottest" areas over the last six months.
Property in the Valley appears to be holding its value better than some other parts of the state, especially around the capital. Prices in parts of Sacramento and Placer counties fell from a year previously. The median price in Placer County declined 2% from May 2005, with Auburn showing the sharpest drop -- 8% to $439,000. In nearby Fair Oaks, values fell almost 16%.
Based on all sales (SFHs, condos, and new homes)
2 comments:
Excellent visual, Lander, as per usual.
Keep up the good work.
Cheers mate!
Man, I just got back from touring 6 of those counties you mention. High density SFRs 17 miles north on the I-5 from Sacramento? What's with that? Dozens of cul-de-sac cookie cutter tracts in Merced? What's with that? High prices in Redding and Red Bluff? What's with that?
Property in the Valley appears to be holding its value better than some other parts of the state, especially around the capital.
Leave it to the STATE CAPITAL to think it isn't in the Central Valley. Or is that the Central Valley wishing Sacramento weren't part of the Central Valley?
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