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Business Journal: Region's Home Prices Continue to Struggle

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(Sacramento, CA)
Tuesday, August 24, 2010
Sacramento-area home prices dipped slightly and sales dropped last month, the latest evidence that the housing market continues to struggle.  The median home price declined in all four counties - and many of the cities in the region - an about-face from the almost 11 percent price increase statewide.
Yolo County had the largest drop in price, falling about 12 percent last month compared to July 2009, while home prices in Sacramento, Placer and El Dorado counties were off a more modest 3 to 4 percent. West Sacramento, Granite Bay and Orangevale had the largest one-year drop among the communities, each falling more than 12 percent.
The local figures are a dramatic shift from the statewide trend, where home prices have increased nine consecutive months - and with a double-digit rise for seven straight months.
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