Sacramento metro home prices have declined steadily for almost 40 months How much lower can they go? Here's the case for and against home prices bottoming out soon. Scroll over each chart to investigate and slice the data yourself.
Pro: Correction almost complete · Pro: Most homes are affordable ·
Con: Foreclosures still dominate · Con: The economy, stupid
Pro: Home prices are about to stop falling
Correction almost complete:
if the boom was a mirage, we are back to reality.
Inflation-adjusted median home prices, Sacramento Region, 1991-2008
More families can afford homes:
a family earning the median income could afford 66 percent of the region's homes.
Percentage of homes affordable to family earning region's median income, 1991-2008
Con: Home prices can fall even further
Foreclosures still dominate market:
the last two months have seen an increase in foreclosure filings
Foreclosure filings, Sacramento Region, 2005-2008
The economy is in horrible shape:
in the midst of the worst economic recession in decades.
Number of employed workers, Sacramento Region, 2000-2008
Wells Fargo/National Association of Home Builders
California Economic Development Department