Local Home Sales Up, But Not Prices

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(Sacramento, CA)
Thursday, September 18, 2008

DataQuick’s Andrew LePage says when prices go down, sales go up.
LePage: “We have some zip codes in the capital region that are showing some of the steepest home price depreciation in the country.  It’s brought back affordability; there are a lot of so-called bargain hunters out there, whether first-time buyers or investors snapping homes up.” 
LePage says most of the August sales came from foreclosed homes.
Meanwhile, Placer County saw its sales rise for the second month in a row.
LePage says the Sacramento area has taken a much harder hit than the rest of the state – in both home sales and prices.  But while prices here are still down, sales are picking up sooner than other regions.