"26,100 new and resale home transactions closed escrow in California during February 2019. February’s dismal sales numbers follow January’s bottom, which saw the lowest month for sales in the state since 2008, when the country was in the midst of the Great Recession. The number of homes sold was 7% lower than a year earlier, amounting to 2,100 fewer sales in the single month of February. This continues the trend of falling year-over-year sales volume, which began in the second half of 2018. " Source.
Seems just yesterday that Sacramento was one of the hottest regions. Now they are having the best time since 2008.
Also, this seems to be why everyone is so anxious about getting laid off. Layoffs at highest level in first quarter since 2009 as recession fears grow: economic report.
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