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Report: Sacramento Area Home Market Will Plateau In 2015

  

The list comes from Clear Capital. Alex Villacorta with the research firm says this will be a year of stabilization for the region's housing market.

"Home prices in Sacramento, in particular, look to be plateauing as we turn the calendar here. We do expect some growth."

Growth of 2.5 percent to be precise. That's way down from 9.3 percent last year. But Villacorta says it's a sign the market is normalizing and it's good news for home buyers and home sellers.  

"When you have a slower moving housing market, along the lines of that 2.5 percent over a year, what that does, it instills confidence that the housing market isn't going to change on a dime, we're not going to see another downturn."

Villacorta says the Sacramento's region's rate of foreclosures and short sales is at 14.2 percent.

"Which is very remarkable considering that at some of the height of the housing crisis and the distressed activity that rate was closer to 60 percent. So the fact that its dropped that dramatically is a very good sign for the region in terms of setting up a more sustained and healthy housing market."

Villacorta says historically, before the housing crisis, that rate was less than five percent.

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