Yellow Pages |   News Updates |   Events Calendar |   Movie Times | Recycling
Rocklin & Roseville Today Local Events
HOME

What is Slowing the California Housing Recovery?



The California housing market and our local market in the Sacramento area has slowed and is not reaching the earlier predictions of many real estate pundits. 

There appears to be three reasons why our housing market is not booming.  Distressed properties have declined significantly, although improving the job and credit market remains tight, and there are very few first-time buyers.

Although a good thing we have seen a dramatic drop in distressed property sales.  It was not that long ago when it seemed like every listing was a short sale or bank foreclosure.  Last year in July distressed properties made up almost 26 percent of sales.  This year they are down to 17 percent and declining.

Income and credit requirements have not kept pace with the rapid price gains over the past 18-months.  For prices to continue to move up we need to see incomes increase and/or the easing of credit terms.  We keep reading articles about credit getting easier but have yet to see any hard evidence.  The job market in California remains tight despite a brighter employment outlook.

Many first-time home buyers have fallen by the wayside as prices have increased and because of the lack of affordable inventory.  Although prices are not rising as fast this year, almost all metro areas are showing year-over-year price increases.  The current median price of a California home is just over $390,000. 

Until income growth catches up with affordability, the lack of first-time buyers and declining distressed property sales will most likely continue to slow the local and state housing market.

If you have any questions or comments I would love to hear from you.  I can be reached at the MagnumOne Realty office in Roseville (916-899-6571) or by sending an email to juliej@jalone.com.  If you like this kind of information combined with community happenings, like us on Facebook.

Now on FB, thanks for the love!



Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento


Placer County News Headlines

Rocklin Flash Crime Report (9.28.16)Rocklin, CA- The latest police activity report from Rocklin Police covering the period of September 12- 18, 2016.

Rocklin Venues to Host Cyclocross RacesRocklin, CA - On October 8 and 9 Sacramento Cyclocross will kick-off their cyclocross race season with exhilarating events in two Rocklin locations

$3 Million Plan to Remove Damaged Trees Approved by SupervisorsCounty staff has identified approximately 1,800 trees in need of immediate removal. With an estimate of $1,700 per tree, the total cost of the project is expected to be about $3.1 million

Draft Vision for Sunset Area and Placer Ranch in South PlacerRoseville, CA - Placer County planners today unveiled the first draft land use vision for Placer Ranch and the Sunset Area in south Placer

Grant to Support Seniors First Meal Delivery ProgramSeniors First Executive Director Jamee Horning is honored to announce the receipt of $15,000 from Sierra Health Foundation, a private philanthropy committed to improving health

Steven Pedretti: New Community Development Resource Agency directorGuiding future development in Placer County is now in the hands of Steven Pedretti, Placer's new Community Development Resource Agency director.

Best & Worst Cities for People with DisabilitiesThe results are in for 2016's Best & Worst Cities for People with Disabilities.

Allyhoos Comfort Young Hospital PatientsIt all began with her own physical suffering, and through this suffering she has helped heal others.

Seniors First Receives Grant from Alzheimer's Foundation of AmericaSeniors First, located in Auburn, has announced the receipt of a $5,000 grant from the Alzheimer's Foundation of America

UC Davis Alzheimer's Disease Center Grant RenewedThe UC Davis Alzheimer's Disease Center, which investigates cognitive aging and dementia, has received renewed funding of $6.9 million

Roseville Gas Prices Ticking UpwardRoseville, CA- Gas prices in Roseville and surrounding communities continue to push upward

Roseville Woman Sentenced to 14 Year Prison SentenceRachel Siders, 41, of Roseville, was sentenced to 14 and a half years in prison for her involvement in mortgage fraud schemes that cost financial institutions over $17 million


NEWS: In Case You Missed It