We Get Support From:
Become a Supporter 
 We Get Support From:
Become a Supporter 

Report: Home Prices Plateauing

  

The data show some of the fastest-appreciating markets last year are seeing big slowdowns in price growth this year. That includes Sacramento which saw 10 percent annual appreciation last month compared to 30 percent a year ago. Daren Blomquist is with RealtyTrac which released the numbers.

"Sacramento home prices have risen 68 percent after bottoming out in February 2012. We've seen this dramatic price growth and it's really unsustainable. We're getting to a point where affordability is a concern actually again."

The median sales price in the Sacramento area last month was $285,000. Meanwhile, Stockton last month had the highest percentage of bank-owned sales in the country at 23.5 percent. Nationwide it's only 7.5 percent.

 realtytrachome sales

Steve Milne

Morning Edition Anchor & Reporter

Steve is the voice of Capital Public Radio News as anchor of Morning Edition and Insight. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music. Steve also produced stories for CapRadio.org.   Read Full Bio