No shortage of head scratching going on here. Several expensive zips, Granite Bay, El Dorado Hills, Davis, Loomis are way at the top, and others, are way at the bottom like Arden, Downtown and East Sac, Folsom and Roseville.
Lower inventory will likely stop some of the price free fall some parts of Sacramento have been experiencing lately, but I imagine banks will still be pricing their properties rather aggressively to make sure that if anything sells, it will be their property. Speaking of sales, there seem to be a lot of cheers that sales are up from those in the industry, but the folks over at BMIT put the trend in perspective for us.
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It looks to me like the neighborhoods with prices that need jumbos are poised for some bigger declines.
Based on your chart a few weeks ago, if you took out the 800k+ priced homes in these areas I think the picture is a little better. (like 2rys for 800+/6months <800k)
As a sidenote construction activity has picked up in the custom areas in EDH. No spec activity but many who had been waiting for the construction costs to fall are building now.
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