Housing Slump Expected To Continue in 2009

Sacramento area housing prices expected to drop another 22%

If you thought the new year is going to be prosperous, you might look to things other than housing to be the source of your prosperity.

According the highly-regarded Case-Schiller national home-price index, the median house price in the Sacramento area for 2009 is projected to drop 22%. Of all real estate markets in the United States, Sacramento is expected to be the fifth worst.

Of the ten worst real estate markets nationally, seven are in California including Los Angeles (1st), Stockton (2nd), Riverside (3rd), Santa Ana (6th), Fresno (7th) and San Diego (8th).