Sacramento Appraisal Blog

Market trends and real estate appraisals for divorce, estate settlement, loans, property tax appeal, pre-listing and more. We cover Sacramento, Placer and Yolo County. We're professional, courteous and timely.

Graph of unemployment in Sacramento County

Unemployment is still high in Sacramento County despite a recent boost in property values

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Here is your monthly unemployment update. We saw a percentage point decline in the unemployment rate over the past few months in Sacramento County, but the rate is now back up to 11.1% after two previous months at 10.5% (per EDD June 2012). Unemployment rates tend to go up and down each month, so it’s not a huge concern to see it jump back up again – especially since it had such a large decline a few months ago. The rate is still down from the high of 13.2% in July 2010, and the trend still appears to be declining, but we’re not out of the dark economic woods yet. While we are seeing improvement overall in unemployment figures and the housing market has been experiencing rising property values in portions of the market, let’s continue to keep things in perspective. We still have a way to go.

Any thoughts? What are you seeing in the job market out there? Is it any easier to find a job right now than it was 1-2 years ago?

Unemployment in Sacramento County through June 2012 - Sacramento Appraisal Blog

Unemployment in Sacramento County from January 1990 to June 2012 - by Sacramento Appraisal Blog

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If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

Unemployment trending down in Sacramento County

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I don’t make predictions about the real estate market, but I’m glad to report unemployment has been trending downward lately – and that’s a good thing!! It’s nice to see that arch on the right side of the graph getting a bit more defined as unemployment is currently at 2009 levels. If we see jobs increase in the Sacramento area, that can only be positive for the housing market, don’t you think?

Sacramento County Unemployment Rate 2005 to 2011 by Sacramento Real Estate Appraiser

How far have property values declined? Generally speaking, property values in Sacramento are at a level near 2001 right now. Some areas like Pocket / Greenhaven show a trend in 2002, whereas other zip codes in East Sacramento are closer to 2003, while still other zip codes or property types are definitely before 2001. Generally, the areas with higher values tend to sell near 2002 or maybe 2003 levels when considering the overall market median sales price by zip code. At the same time, many areas that we’d think of as “challenged” due to crime or other issues are definitely before 2001 in many cases. Keep in mind the median sales price by zip code encompasses an entire geographical area and may or may not represent a certain niche or neighborhood within that zip code (that’s the problem when looking at data for an entire area).

DOWNLOAD HERE: Sacramento Area Median Price Graphs for sales between 1997-2011 (PDF) from the Sacramento Association of Realtors. This may be helpful to glean some context into some of the aforementioned bits I mentioned above.

Any thoughts about unemployment or how the real estate market is doing?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

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