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Economic Forecast for Sacramento Cautiously Optimistic

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(Sacramento, CA)
Wednesday, January 23, 2013

The Sacramento Business Review forecasts unemployment will range between 9 and 10.5 percent. 

Jonathan Lederer is one of the authors of the forecast.  He says the overall expectation is for slow growth.  He says tax increases locally, statewide and federally will be partly to blame. "In terms of job growth, it's going to be modestly positive. It's not going to be rip-roaring recovery in terms of this massive change in growth.  We think we're positive.  We just think the pace is gonna be a little bit slower."

Lederer says home prices should continue to increase and that should foster increases in both refinancing and home construction.   Housing supply is expected to remain low, which should help prices continue their improvement from 2012.   

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