AGENT MLS HOME FINDER

The Auburn real estate market, part of the larger Sacramento area market, continued to show some signs of distress in the month of April, including the foreclosure and home price levels. According to a May 11, 2010 article from all Things Considered, “Foreclosures increased 46 percent in April, compared to a year earlier with almost 1,800 homes going back to lenders or sold at auction in the Sacramento region. Foreclosures.com says Sacramento County accounted for almost half of those foreclosed homes, with Elk Grove, North Natomas and south Sacramento among the hardest-hit communities.” The piece by Ron Trujillo went on to find that “The closely-watched foreclosures report is the most recent indicator that the housing market is going through a roller-coaster ride with the still-struggling economy, with the median home price down about 35 percent – or even more in some areas – from the peak four years ago.”

A second report on All Things Considered from KXJZ News noted that the average sales price of an Auburn home for sale declined moderately in April, although the same figure for Sacramento overall increased. According to this piece, “The California Association of Realtors says the median home price – meaning half the homes sold for more, the other half for less – increased to $188,000 in April. That’s about $20,000 more than what has been considered the bottom of the market. But the figure has created a bit of an unusual situation, since only Sacramento County enjoyed higher prices compared to April 2009. El Dorado, Placer, and Yolo counties reported modest price declines in April compared to a year ago. But sales dropped 8 percent to 484,000 homes, that’s the fewest homes sold in 19 months.”

The same negative news for Auburn real estate was relayed by a May 21, 2010 article in the Sacramento Bee. This article, written by Jim Wasserman, went on to say that “Overall, 3,255 homes changed hands during April in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties, DataQuick reported. That was down slightly from March – and fewer than April 2009. Analysts attributed the slight drop to fewer repo listings for first-time buyers and people delaying escrow closings until May.”