Sacramento County housing indicators

This article is from:
http://journal.firsttuesday.us/sacramento-county-housing-indicators/44438/

Posted by ft Editorial Staff | Mar 4, 2018 | Charts, Forecasts, Latest Articles, Sacramento | 0 |
Sacramento County, encompassing California’s capitol and cities like Elk Grove, Citrus Heights and Folsom, is home to the California Bureau of Real Estate (CalBRE). This region is suffering through an elongated economic recovery following the 2008 recession. Homeownership and construction have stalled, still waiting for the jobs recovery to arrive.

Sacramento-Home-Turnover-2016

Chart update 12/31/17

	2016	2015	2014
Sacramento County homeowner turnover rate	8.2%	8.4%	8.0%
Sacramento County renter turnover rate	19.2%	24.6%	28.4%

A real estate agent’s living is contingent on residential turnover. Without it, property doesn’t sell, tenants stay put and mortgage originations go nowhere.

Sacramento was one of the last counties in California to reach an initial pre-recession jobs recovery, and has a long way to go to catch up with population gain. Its lagging recovery can be attributed partially to Sacramento’s dependence on state and local government jobs, which are slow to return.

Many, but not all, of these jobs will be restored when homebuyers return in full force. Jobs will rise to meet the region’s population increase by 2019, fueling wallets and in turn household formations. Expect to see a mini-construction boom as builders rise to that demand, likely around 2019-2021.

Get to know Sacramento’s local housing fundamentals in the charts that follow.
Updated March 04, 2018. Original copy posted October, 2015.

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http://journal.firsttuesday.us/sacramento-county-housing-indicators/44438/