Wednesday, May 14, 2008

2001 Here We Come?

Thought I would do another status check to see where we are compared to historical levels. I only have data going back to August of 2002 (from DataQuick via SacBee). The columns in blue are the price per square foot, both nominal and real (inflation adjusted at 3.5% a year) from August 2002. If the numbers in the grey column are read that means that the March 2008 data are below the inflation adjusted price of August 2002, if they are also in bold, that means the price per square foot is also lower on a nominal basis as well. The last two columns show the max price per square foot from the DataQuick data I had on hand, as well as the drop from that max compared to today.

We have certainly come along way from the peak. Hard to tell how much farther we can go. For a previous comparison using the median price see this post.

3 comments:

sacramentia said...

BT-

Interesting data .. at least property taxes should be adjusting down for a couple years.

If you call 1997 a fairly valued year, then by my data the inflation adjusted price is 133% of the 1997 price, or about the same as the mid-2001 nominal price.

Patient Renter said...

Big variances in the price drops (Folsom anyone?) I truly do expect the areas that haven't dropped as much, yet, to catch up quite a bit.

Buying Time said...

Yup we pretty much stopped looking in Folsom as of late, since Cameron Park and EDH are priced consdierably better.