Posted by: msundermier | July 24, 2009

Folsom Home Prices Remain Resilient

Over the last 12 months the Dow Jones Stock Index has fallen nearly 20%.  Considering how battered real estate has been relative to other parts of our economy, you’d think Folsom home prices haven’t fared much better.  But, in actuality, the Folsom median home price has remained essentially flat.  In June 2008, it was at $384,000, and in June 2009 it was $382,000.  It feels great to live in a community that has weathered the real estate down-turn better than others in our region.  Since real estate prices in the Sacramento region peaked in August of 2005, the median home price in Sacramento county has fallen 54%.  In Folsom, only 30%. Here is a history of median home prices since the market peak in August 2005

Also, here is a wonderful article that details how many home renters are becoming home owners as the difference between their old rent payment and new mortgage payment has become marginal.  Give it a read.

Buying is now cost-effective for some renters

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