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Report: Home Prices To Rebound In 2013

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(Sacramento, CA)
Monday, January 9, 2012

Numbers released today show Sacramento area home prices fell another 7% in 2011. They're predicted to hit bottom in the next 11 months.

"Prices will find that bottom this year with a 3.3% decline turning for the better in 2013."

Alex Villacorta is with Clear Capital, a Truckee-based company that tracks home price trends for the mortgage and lending industries.

A couple of reasons he forecasts a recovery in prices next year are: rents are getting higher, making home purchases attractive again; and signs of new growth in the economy. 

But Villacorta says the turnaround won't be sudden.

"It will not be back to 2003-2004 run up type appreciation rates. We will likely return to much more modest gains."

Villacorta's definition of "modest gains" is 1% to 3% of annual growth.

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