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.



About Realtor Julie Jalone


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 Burglary Suspect Killed by PoliceRocklin, CA- This morning February 25th, 2017 at 10:01 AM, The Rocklin Police Department responded to a residential burglary in progress on the 4900 block of Bradford Place

Roseville Police Activity Weekly Update (2.23.17)The City of Roseville police activity weekly update for the period covering February 17-23, 2017

Fine Forgiveness at Sacramento Public LibrarySacramento Public Library is waiving all overdue book and material fines through Wednesday, March 15 as part of its new Fine Forgiveness promotion

Public Meeting: Sierra Joint Consortium for Adult Education(AUBURN, CA) The public is invited to attend the Sierra Joint Consortium for Adult Education (SJCAE) public meeting on March 15, 2017,

Seniors First Represents Capital Region in National Campaign(Auburn, CA) - Surprisingly to some, individuals age 60 and older in our area continue to experience an increasing rate of hunger.

20 Year Upgrade Project for Northstar Ski ResortAUBURN, Calif. -- The Placer County Board of Supervisors on Tuesday approved a series of actions to guide upgrades and improvements to the Northstar California ski resort

Real Estate Watch: Home Seller's Market Roseville, CA - Realtor, Julie Jalone of MagnumOne Realty in Roseville, is asking why more homeowners are not taking advantage the current seller's market being caused by high buyer demand and low inventory of home for sale.

Top 5 Healthy Heart Habits : A Dose of Vitamin Ray with Dr. RayDid you know, heart disease is still the leading cause of death in both men and women in the United States? In fact, per The American Heart Association

Autism Studies: Placenta Provides Time Capsule(Sacramento, Calif) - In two recent studies, researchers at UC Davis have shown that placental tissue can provide critical information about the epigenetic

Winners of American History Essay Contest honored in RosevilleRoseville, CA - Congratulations to winners of the American History Essay contest sponsored by Roseville's Gold Trail Chapter

Placer SPCA Announces 2017 Board of DirectorsRoseville, CA - The Placer SPCA has announced the election of its 2017 Officers for the Board of Directors.

Hyundai Veloster: Unconventional compact hatchbackRoseville, CA- The first thing one notices about the Hyundai Veloster is the odd door arrangement. It's an ingenious idea, putting two doors on the passenger side of this compact hatchback


NEWS: In Case You Missed It