The good news is that Sacramento-area home prices are now declining slower than California as a whole. But that's about where the good news ends in a national report on January sales prices by one of the gold standards of the business: First American CoreLogic.
The firm's Loan Performance Home Price Index (HPI) shows a collective 25.16 percent decline in resale home prices from Jan. 2008 to Jan. 2009 in El Dorado, Placer, Sacramento and Yolo counties.
That compares to 26.7 percent in California as a whole, and 11.6 percent nationally.
Worse than Sacramento: Riverside-San Bernardino, Miami, Las Vegas, Oakland-Fremont and Fort Meyers, Fla.
About the same: Los Angeles-Long Beach.
Doing a little better than Sacramento is Phoenix, Fort Lauderdale, San Diego, Orlando and Tampa-St. Pete.
Where did prices actually rise over the year?
- up 1.54 percent in Dallas
- up 3.58 percent in Houston
- up 3.92 percent in Austin
This from the firm in explaining its methodology:
"The LoanPerformance HIP is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate 'constant-quality' view of pricing trends than basing analysis on all home sales."