Sunday, December 17, 2006

Sac Housing Market Tanks; Renters Shake Fists In Frustration

This renter, anyway: It's a buyer's market in Sacramento:

Sellers, both individual homeowners in the resale market and builders pushing new homes, are finding the only way to make sales is to cut prices. And that is precisely what is happening. The median price for an existing home in Sacramento fell 4.2 percent to $345,000 in November from $360,000 in 2005, while the median price for a new home fell 14.6 percent to $395,250.

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