The bad news for homeowners is that home prices in Sacramento, Placer, El Dorado and Yolo counties declined 16.9 percent from May 2008 to May 2009. The good news is that's a big improvement over April, when year-over-year declines were 19.5 percent.
The real news is things are getting worse a lot slower. And that's an improvement for all those homeowners checking Zillow every 15 minutes now for four years on their home values.
It seems that Sacramento, which fell hard and fast in 2008 is easing up. But the Inland Empire of Riverside and San Bernardino counties - which was slower to stumble into the tank - is really getting hit hard now - with prices down almost 30 percent in the past year alone.
That's from First American CoreLogic in this May report on home prices here and nationally.
Highlights:
- National housing prices fell 9.2 percent from May 2008 to May 2009. That was the lowest year-over-year drop of 2009.
- Top five states for May year-over-year price declines are the usual suspects. In order: Nevada (26.4 percent), Florida (25.5 percent), California (19.8 percent), Arizona (18.1 percent) and Illinois (16.9 percent).
- Prices rose from May 2008 to May 2009 in Austin, Dallas and Houston.
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