Jgnet Real Estate Blog

The Rocklin real estate market, found in California’s Central Valley near the larger market of Sacramento, saw mixed signals in recent months. According to statistics from the California Association of Realtors, the median home price for the region decline for the fourth straight month, approaching the previous record low. This makes recent concerns about a double dip in the housing seem more realistic, even as home sales decreased relative to year ago levels. The average price for a single family home in the region was $173,870, compared to $188,480 in November 2009. This decrease marked a decline of almost eight percent from year-ago levels, and a drop of nearly three and a half percent compared to the month of October. The most recent figures are up only about four percent from the bottom of the market, which was reached in April 2009. The volume of home sales rose by more than five and a half percent compared to last month, although the number of sales fell by about one and a half percent relative to year-ago levels. The Sacramento-area housing market, including Rocklin, has been one of the hardest hit in the state of California, and has only recently seen some tentative signs of improvement.

The most recent figures available show that foreclosure rates across the larger Central Valley area saw a slight decline. Information from CoreLogic indicated that five of the seven metro areas in the Central Valley saw a decline in foreclosure rates, with only two cities seeing an increase. Although some Rocklin homes and other parts of the Central Valley were among the first affected by the housing meltdown, there have been surprisingly few fraud prosecutions in the region. According to the Central Valley Business Times, at least six counties in the Central Valley have not had any fraud prosecutions, although the exact reason for that remains unclear. After succumbing to the collapse of the national real estate market and the recessionary conditions of the economy, the Central Valley has been sluggish to recover, even in the face of record levels of federal stimulus money and the federal housing tax credit.