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Rancho Cordova Unemployment Rate

Is unemployment tied to Sacramento real estate?

July 31, 2011 By Ryan Lundquist 4 Comments

I have a guest post up today entitled “Is unemployment tied to Sacramento real estate” on Sacramento Real Estate Voice. Thank you Gena Riede for inviting me to post. Go check it out and give it some love. The post really focuses on sales and unemployment rates over the past few years in the Sacramento area and takes a specific look at Folsom, Galt, Rancho Cordova & North Highlands. Here is an example graph from the post. It’s amazing to me to see figures like this.

Visit my guest post HERE. Thanks so much.

If you have any questions, or real estate appraisal or property tax appeal needs in the Greater Sacramento Region, contact Lundquist Appraisal by phone 916-595-3735, email, Facebook or subscribe to posts by email.

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Filed Under: Market Trends Tagged With: Folsom Real Estate Appraiser, Folsom Real Estate Market, Folsom Unemployment, Galt Real Estate, Galt Real Estate Appraiser, Galt unemployment rate, Gena Riede, Gena Riede Realtor, guest post, North Highlands real estate, North Highlands Real Estate Appraiser, North Highlands unemployment rate, Rancho Cordova Real Estate, Rancho Cordova Real Estate Appraiser, Rancho Cordova Unemployment Rate, Sacramento Real Estate Voice, Unemployment Rates

A Look at Home Sales & Unemployment in Rancho Cordova

September 30, 2009 By Ryan Lundquist 1 Comment

I thought it would be interesting to take a look at Rancho Cordova sales over the past several years and simulataneously check out unemployment rates during that same time period. Is there a relationship between unemployment and the value of real estate? Generally speaking, the higher the unemployment rate, there is a good chance of lower home prices because the probability of buyers being able to purchase houses at higher prices decreases.

The trend graph below records all single family detached sales in the city of Rancho Cordova through Sacramento Area Metrolist. The unemployment figures are based on data provided by EDD. What do you see in the graph? Does anything stand out to you or surprise you about the sales (blue dots) or listed unemployment rate?

Rancho Cordova Sales and Unemployment Rates September 2006 to September 2009

Below is a view of the past 12 months of sales. As can be seen, the unemployment rate has risen sharply over the past year. It looks like overall the top of the market has seen a decline in property values. At first glance, when viewing a graph like this, it’s easy to gloss over the details, but when looking closely, it’s clear that there are less sales at higher levels over the past months, aren’t there? More specifically, there are few sales above the $400,000 level over the past 180 days.

Rancho Cordova Sales September 2009 and Unemployment Rate by Lundquist Appraisal Company

I don’t want to be misleading in any way by indicating that unemployment is the sole determining factor for property values. That’s not what I am saying. I think there is a relationship between unemployment and the housing market, but that unemployment is only one of the factors involved. This point is illustrated perfectly by a current phenomenon in many sub-markets in the Sacramento Region. Bidding wars, multiple offers, and higher prices have become more commonplace for certain price levels. Despite unemployment rising, the lower supply of housing inventory over the past months has really helped to fuel this phenomenon because there has been more willing buyers than available houses (and prices are very attractive too because of how far they have come down from several years ago). Other factors to consider that may impact the real estate market are supply and demand, governmental regulations, interest rates, consumer confidence in the economy, etc…

Please let me know if you have any questions. You can call me at 916-595-3735 or contact me at ryan@lundquistcompany.com.

www.SacramentoAppraisalBlog.com A Look at Home Sales & Unemployment in Rancho Cordova

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Filed Under: Market Trends Tagged With: Rancho Cordova Home Sales, Rancho Cordova Property Value, Rancho Cordova Unemployment Rate, Real Estate Appraisal, Real Estate Appraiser, Relationship between unemployment rate and real estate value

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