When Home Prices Were Last This Low

This map shows the last time median home prices were at late-2011 levels, after adjusting for inflation.

Hudson Sangree and Phillip Reese recount the very disappointing housing market conditions in Sacramento (Sacramento Bee, Apr. 8, 2012).  Included with the article is the map above that gives a very clear picture of California’s uneven economic recovery.  The upper Central Valley and mountain regions took the biggest housing wealth hits are taking the longest to recover from the recession and housing market collapse.  Coastal communities are doing relatively better.

(read the article)

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4 Comments

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4 responses to “When Home Prices Were Last This Low

  1. This isn’t surprising. The counties where housing prices rose far above the levels residents could afford suffered the greatest collapse. In addition, the cost of housing affordable to low- and moderate-income households rose, and then fell, more than more expensive properties.

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