Why has housing prices in the Sacramento Region not recovered to the level before the housing bust in 2008?

[wburg]

I have noticed that prices in Midtown have reached, or in some cases exceeded, their 2007 boom points. That includes mid-2000s infill housing and older houses.

[webdev]

The economy isn't booming as much as some may think. Its slightly improved. In general though, I have noticed prices have gone up pretty high but not insane levels.

[Logic87]

From what I have seen prices are close to the 2007 leave in the most desirable places in Sacramento (i.e. East Sac, Land Park and Midtown.)

[2sleepy]

Originally Posted by Mr. Ozo

Because those were bubble prices, not based on true value (supply and demand, economic conditions etc) .

It's really good for everybody if home prices stay close to flat for a while, it's means enough building is happening to meet demand.

As far tech jobs, nobody a year would have predicted Uber moving to Oakland. Apple is expanding in Sacramento, I'm betting we will see more satellite operations open up in the Sacramento region.

These aren't huge companies, but it's a start: Two tech firms to bring hundreds of jobs, mayor announces

[citizensadvocate]

Its great to see Apple expanding to Sacramento. There were a uptick in tech companies who opened up branches in the mid 2000s I was just wondering that shouldn't it come back after the economy recovered in 2013 and tech has a strong hold with growth in this boom similar to back in 2000. Its a good thing that prices reached near the level during the climax of the last boom in parts of Sacramento. Though I do wonder as prices in many parts of the Bay Area and LA/OC/SD had exceeded their peak in 2007. This matters a lot for those who happen to need to move to those areas from Sacramento. I know people who bought their first house in Elk Grove back in 2006, while its good that they are no longer upside down with their loans nowadays they still cannot sell as high as the price when they bought it but they might have to move to the Bay Area soon and face the issue. I just wonder why job growth did not come back to Sacramento for this boom as compared to the 2000s when the song was changed to "do you know your way to Sacramento" instead of "San Jose" for tech companies. I remember reading the Sacramento magazine and seeing the reports on the constant growth in Sacramento for many companies including tech companies. One of those years the DMV recorded the highest amount of relocations towards cities in Sacramento county and surrounding Placer, El Dorado, and Yolo counties. I wonder did Sacramento's bad reputation of being a capital city that badly mismanaged the state permanently ruined the city's reputation and consequently prevented a full recovery.

[wburg]

Nope, probably not, any more than Los Angeles' reputation for producing terrible movies somehow impeded their economic recovery. Why would people blame the people of a city, most of whom don't work for the state, for mismanagement of the state, when, at least by my reckoning, the state is in pretty good fiscal shape these days?

[JVinci]

You probably haven't been trying to buy a house lately. Inventory is fairly low, with nice homes in the North Oak Park, Curtis Park, Land Park, and East Sac neighborhoods going over listing. It's a tad slower right this moment in winter, but it'll heat back up come spring. I finally was able to secure a little 2/1 in Curtis Park. Had to go $15k over listing to get it. If you're in a desirable neighborhood, your home has probably recovered.

[Majin]

I've been generally ignoring this thread as this has some really bad information in it. There are two very different dynamics going on in the Sacramento region as far as housing prices. The vast majority of places in the city are beyond 2007 peak and inventory is very low.

In the suburbs, recovery has been much slower, especially the middle income suburbs.