Temecula Valley Neighbors, Riverside-San Bernardino, California #4 on Forbes’ America’s Emptiest Cities

Temecula Valley Neighbors, Riverside-San Bernardino, California #4 on Forbes’ America’s Emptiest Cities. 

On March 2, 2011, Forbes reported that Riverside-San Bernardino, California had a single family vacancy rate of 6.4% in the fourth quarter of 2010. This was the nation's highest single-family home vacancy rate in the fourth quarter of last year.

Riverside-San Bernardino, California ranked #4 on Forbes list of America’s Emptiest Cities which they compiled by ranking cities over all four quarters of 2010 by single-family and rental vacancy rates, then averaging the ranks to determine the top 10. Here are the results:

1. Orlando, FL
   
2. Las Vegas, NV
   
3. Memphis, TN
   
4. Riverside-San Bernardino, CA
5. Dayton, OH
   
6. Phoenix, AZ
   
7. Houston, TX
   
8. Jacksonville, FL
   
9. Tampa-St. Petersburg, FL
   
10. Detroit, MI
    

While this information seems daunting, it of course means that with so much inventory available, home prices in these cities have dropped tremendously. The median sale price of a home San Bernardino as of January 2011 was just $165,136 and in Riverside $218,827. That’s down from $325,000 and $402,000 respectively just 4 years ago. Many buyers and investors now have an opportunity to purchase homes in these areas that they otherwise may not have been able to.

And this is of course the case throughout the Inland Empire, California, including the delightful Temecula Valley. There is an abundance of beautiful, affordable homes on the market right here in the Temecula Valley now. As daunting and saddening as the statistics in our hard hit community remain, good can and will come from it.

The following data was obtained from information in a report from Chicago Title:

HOME SALES PRICES (Single Family Residential–Full Value Sales) January 2011

To view the many affordable homes for sale in the Temecula Valley, visit See Temecula CA Homes, email me, or call me at 951.294.7917.

Penny Sargent provides an exceptional level of real estate services to home buyers and sellers in the Temecula Valley. Visit www.SeeTemeculaCAHomes.com to search for homes in Menifee, Murrieta, Sun City, Temecula, Wildomar, Winchester and surrounding communities.