There is a new forecast just out for the Sacramento region.  This one is put together by the Sacramento Business Review, Sacramento State and the Chartered Financial Analyst Institute.  There are some startling elements such as 10 percent unemployment but overall it appears to be well done and has an easy reading style which I appreciated.

In discussing the Sacramento residential real estate market, the report had several comments that I thought were positive.  About investors they say, “…we anticipate the next 12 to 18 months will provide abundant, excellent long-term investment opportunities at very attractive prices.”  They go on to remind readers of the long term strength of the Sacramento based on population growth, relative affordability, quality schools, job diversities, cultural sophistication, endless recreational activities, and proximity to several world-renowned destinations.  The authors believe these elements will continue to make Sacramento’s long-term outlook bright.

The economic forecast  points out, Sacramento’s real estate market is further along in the business cycle  than many other markets because we have incurred a large pricing correction and the presence of state government will temper the impact of a recession and provide a level of stability that other areas in the State do not have.

Bottom line is the Sacramento area real estate market has some resiliency but any improvement in 2009 is dependent on a speedy recovery of the current economic recession and a resolution of the credit crisis.