Home prices sputtering regionally
By Ron Trujillo, Sacramento Business Journal
It was better times, it was the worst of times. It was the age of wisdom, after the age of foolishness.
OK, so I altered a few of the classic words, but when you are dealing with the housing market, changing a few things is almost required.
And a lot has changed, especially in the four-county region during the past few years. In fact, we are talking about a tale of two markets — one with great expectations and the other facing grim reality.
Sacramento-area’s median-home price — meaning half the homes sold for more, the other for less — has increased a modest-but-respectable 7.6 percent to $180,000 from the so-called bottom of the market in April 2009, when homeowners hung their heads and home-shoppers licked their lips with the lowest prices in several years.