Sacramento Region fares poorly in forecast for home prices - Sacramento Business Journal:

Region fares poorly in forecast for home prices - Sacramento Business Journal:: "Sacramento Business Journal - December 21, 2006
http://sacramento.bizjournals.com/sacramento/stories/2006/12/18/daily38.html

Business News - Local News
Business Pulse Survey:
Should carpool lanes be added to Highway 50?
Region fares poorly in forecast for home prices
Sacramento Business Journal - 2:40 PM PST Thursday

The Sacramento area housing market will remain one of the coldest in the country next year according to a ranking of the top 100 real estate markets released Thursday. But Stockton will fare even worse.

The Fortune rankings were done by Moody's Economy.com and Fiserv Lending Solutions, a consultant to the banking industry. Sacramento ranked 85th, with the median sales price expected to decline by 3.4 percent. More than half of the U.S. markets are predicted to see price increases.

The report lists the median home price for the Sacramento area as $376,000 in the second quarter of this year, although the analysis did not specify which communities were included in the Sacramento market.

Topping Fortune's list was McAllen, Texas, a border city where home prices are still considered relatively cheap and the median price is $69,000. The predicted rise in prices next year for McAllen is 8.5 percent.

Generally the market is expected "