Home Front

A blog about the economy and the Sacramento-area real estate market.

June 10, 2009
Harsh April for Sacramento-area homebuilders

wassimage.jpgLarge numbers of distressed - and discounted - homes on the market continued to punish Sacramento-area homebuilders in April, making the capital region one of the state's weakest markets this spring, the California Building Industry Association announced Wednesday in a statewide report.

Builders in El Dorado, Placer, Sacramento and Yolo counties reported to their statewide industry trade group that they sold 290 houses in April.

But that was down from 297 in March, and it was 48 percent fewer than the same time in 2008, the CBIA said.

The sales numbers put the capital region's builders on track for an even worse year than 2008, when they sold just 4,847 homes, according to Hanley Wood Market Intelligence of Costa Mesa. Most in the industry believe last year had to be the worst for builders in at least two decades.

Sales in previous years: (Hanley Wood numbers for El Dorado, Placer, Sacramento, Sutter, Yolo, Yuba counties)

2007: 7,174
2006: 9,778
2005: 15,004
2004: 17,491
2003: 16,689
2002: 16,747
2001: 11,736

 This hard fall - blame now the abundance of cheap bank repos and short sales on the market  as many of the homes sold in recent years are sold again - has led to widespread downsizing of the industry and numerous builder bankruptcies.

The median price for a new home in the four-county area was $292,900 in April. And that, too, was down 10 percent from the same time last year - the CBIA reported.

Fairfield-Vacaville, too, is in the same boat. Its sales were down more than 10 percent from March and down 53 percent from April 2008.

Statewide trends were a little better in April. Builders reported a 6.7 percent increase in sales over March, though sales were down almost 31 percent from April 2008.

But the industry said it's noticing that the severity of year-over-year declines is lessening in recent months.

Builders in Yuba and Sutter counties reported 33 sales in April, up from 19 in March. But sales were down 25 percent from the same time last year.

The median April sales price in the two counties: $237,000.

Photo: Sacramento Bee 

About Comments

Reader comments on Sacbee.com are the opinions of the writer, not The Sacramento Bee. If you see an objectionable comment, click the "report abuse" button below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.

What You Should Know About Comments on Sacbee.com

Sacbee.com is happy to provide a forum for reader interaction, discussion, feedback and reaction to our stories. However, we reserve the right to delete inappropriate comments or ban users who can't play nice. (See our full terms of service here.)

Here are some rules of the road:

• Keep your comments civil. Don't insult one another or the subjects of our articles. If you think a comment violates our guidelines click the "report abuse" button to notify the moderators. Responding to the comment will only encourage bad behavior.

• Don't use profanities, vulgarities or hate speech. This is a general interest news site. Sometimes, there are children present. Don't say anything in a way you wouldn't want your own child to hear.

• Do not attack other users; focus your comments on issues, not individuals.

• Stay on topic. Only post comments relevant to the article at hand. If you want to discuss an issue with a specific user, click on his profile name and send him a direct message.

• Do not copy and paste outside material into the comment box.

• Don't repeat the same comment over and over. We heard you the first time.

• Do not use the commenting system for advertising. That's spam and it isn't allowed.

• Don't use all capital letters. That's akin to yelling and not appreciated by the audience.

You should also know that The Sacramento Bee does not screen comments before they are posted. You are more likely to see inappropriate comments before our staff does, so we ask that you click the "report abuse" button to submit those comments for moderator review. You also may notify us via email at feedback@sacbee.com. Note the headline on which the comment is made and tell us the profile name of the user who made the comment. Remember, comment moderation is subjective. You may find some material objectionable that we won't and vice versa.

If you submit a comment, the user name of your account will appear along with it. Users cannot remove their own comments once they have submitted them, but you may ask our staff to retract one of your comments by sending an email to feedback@sacbee.com. Again, make sure you note the headline on which the comment is made and tell us your profile name.

hide comments

On October 14, The Sacramento Bee will temporarily remove commenting from sacbee.com. While we design the upgrade, we encourage you to tell us what you like and don't like about commenting on sacbee.com and other websites. We've heard from hundreds of you already and we're listening. Please continue to add your thoughts and questions here. We also encourage you to write Letters to the Editor on this and other topics.

Jim Wasserman on Twitter

Follow "jimwasserman" on Twitter

October 2013

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31