Doom and gloom no more Sacramento homeowners, for the first time in almost three years home prices in the Sacramento area (Sacramento & Placer Counties) are on the rise. Now, this isn’t to say things will get crazy again like earlier in the decade but it is giving us a really good idea that the bottom of the market was formed this Summer and we’re not likely to go back there.
Of course all things are relative… Prices are not up much, in some areas it’s hard to tell they are even up at all, but they are up and it’s a trend that has been proven since early Summer. Giving a real sign of stability and, most likely, the signal that the future will have more “normal” growth (1-5% a year, averaging about 3% a year) in home values over the comming years. As far as I’m concerned that is more than good enough. Some normalcy is what is needed in these times! We’re looking at what would be considered a normal income-to-home-price ratio for the first time in many years, one of the most important signals of a healthy, but normal, real estate market.