The National Association of Realtors recently reported that in the 2nd quarter of 2008, in year-over-year terms, the Sacramento - Roseville region real estate market was the #1 declining market in the country in terms of median home price: a 36% decline.

Mark Zandi, chief economist at Moody's Economy.com, is predicting the Sacramento area housing market should bottom and stabilize within the next 12 months.  From a general standpoint, I could not be happier, as I don't think the California budget issues, consumer spending declines and local economic outlook can change without the credit crisis and the real estate market declines coming to a close.  There is no question that the liquidation of bank owned foreclosure homes is a necessaary evil that has impacted the markets and will continue in the near term.  The good news is, with median home prices nearing $200k in Sacramento County, credit crisis or not, housing is becoming very affordable.

If you would like to read more about the Sacramento Area real estate markets, the impact of bank owned real estate sales on the Sacramento and Folsom area real esatate markets, read Pulling Back the Curtain on REO's in Sacramento County and Folsom California .

You know the old saying....  What goes down, must come up!  Make your real estate endeavors a successful one!  If you have an interest in foreclosure homes in Sacramento County, visit our Bank Owned Homes / Repo List, Updated Daily.