Home prices right after bubble burst vs now - Folsom & Roseville (Sacramento: sales, real estate)

[ecsdude]

Does anyone who kept track remember how far Folsom and Roseville home prices dropped at the lowest point after the bubble burst? Was the drop sharper in Roseville than in Folsom? I know in Elk Grove prices dropped a lot. I would say a house that was selling for around $350K at its historic high point was selling for about $165-175K at its low point during the last real estate bubble burst. But I'm wondering how Roseville did relative to Folsom. Asking because I'm wondering where would home prices will remain the most stable when the next bubble bursts.

Thanks in advance.

[WizardOfRadical]

Home values dropped all over the region by 50%

Folsom's recovery was a alot stronger. But Folsom real estate was more prime than Roseville, even 20 years ago.

[Shiel85]

how are home values now in comparison to pre-bubble values?

[NinaN]

Originally Posted by Shiel85

how are home values now in comparison to pre-bubble values?

Home prices in Folsom are still about 5% below the peak:

Peak, 3Q05 - $266/sq ft
Low, 3Q12 - $155/sq ft
Now, 2Q17 - $252/sq ft

[ecsdude]

2 condos in my Folsom area recently sold for $280/sqft and $277/sqft.

[inae83]

A house that was sold for around $380,000 in 2011 would now sell for around $550,000 in Roseville.

[derekjones]

Here is the median sales price for single family homes for Folsom:

[NickB1967]

Prices have bounced back to near the high, and appear to be going upward. "If the Bay Area sneezes, the Sacramento will catch the flu..." as the saying goes, but so far, it's going upward.

[DougStark]

With tighter lending practices and a shortage of labor in the construction industry, I don't see a housing crash happening in the Sacramento region or any other appreciating metro area, especially in the west. But I'm not an economist or one who studies these things.

[ecsdude]

Thanks everyone.. reason i wanted to know is because it's probably highly unlikely that we'll see another major drop like we saw around 2010/2011. Those deals may have been once in a lifetime, maybe... But having gone through it has somewhat skewed my view of what is a reasonable price to pay for a house now.. I know those low prices back then were an exception, but the prices now I feel are quite high (in Folsom and many other desirable parts of Sac). I don't want to overpay and trying to determine what is a good way to measure if I'm paying a reasonable price or not, when taking the long-term view considering typical up/down cycles and situations like we saw in 2010/2011.