Friday, May 05, 2017

What is up with Sacramento?

Yesterday a bunch of articles came out about how a lot of Bay Area houses hadn't regained their peak prices yet. Which doesn't surprise me. I'm sure there are still houses in my town that haven't recovered. Although they are on the top end. Hell, even I am barely in equity in my house after all this time and I'm in the middle market.

But I wanted to see which cities were the hardest hit. And the one that really stood out to me was Sacramento. The article said only 9% of the houses in Sacramento had regained peak prices. 9%! I can understand how cities like Fresno and Bakersfield haven't recovered, but Sacramento? That's crazy. So I had to go poking around because frankly I couldn't believe it.

So, I just started going through the listings of every house that was currently on the market looking at price and tax history - and sure as shit - I think it's true.

Now if I do the same thing with Tracy(which is pretty inland.), 90% of the houses currently listed for sale are above their all time highs.  Oddly,  the average size of the houses for sale in Tracy is HUGE. Like 2500 sq. feet. If you simply have a 2000 sqft house there you are a pauper I guess.

It just seems so odd, because most of the Bay Area proper there is in a shortage.

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