On Monday the New York Times ran a front page article talking about Sacramento real estate conditions, Where Home Prices Crashed Early, Signs of a Rebound:
This city was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery, a hopeful sign for an economy mired in trouble and anxiety.
What’s driving the market is the high number of foreclosures (2/3rds) as well as falling interest rates and the first-time home buyers credit. For the buyers featured in the story this meant that buying a previously foreclosed upon home from a group of investors meant a lower monthly payment than renting an equivalent home.
For real-time stats and trends on Sacramento check out our Sacramento page.