Home of failed flippers (including Casey Serin), swarms of illegals, mortgage fraudsters galore, and now the mother of all housing crashes.
Sacramento, HP salutes you. Well done!! Bravo!!
Housing woes stack up - Q2 new-home sales down 42%; median price falls 13%
The outlook for homebuilders and homeowners looking to sell keeps getting worse.
New-home sales were dismal in the second quarter. The number of new and existing homes on the Sacramento market has eclipsed last summer's inventory and stands at close to 22,000. Foreclosures in Sacramento County are 10 times what they were last year. And mortgage rates have risen over the past few months.