Sacramento New Home Prices Drop
Prices and sales of new homes continued to slide in the Sacramento area.
The average price for a new single family home dropped 10 percent to $418,000 in June, from $464,990 a year ago, according to the California Building Industry Association. New home sales declined 14.6 percent to 505 homes, from 591 in June 2006.
Our four county region (Sacramento, Placer, El Dorado and Yolo), often cited as one of the nation’s most overinflated local housing markets, fared slightly better than the state’s overall new home market.
Homebuilders are encountering one of the most difficult housing markets in recent decades, but Sacramento home buyers are enjoying lower prices.