Central Valley has two of nation’s weakest real estate markets for 2008 [California]
Two of the nation’s five weakest residential real estate markets this year are in the Central Valley, according to Veros Real Estate Solutions, a Santa Ana-based company that sells enterprise risk management and collateral valuation services.
Home prices in the Modesto market are predicted to decline 15 percent and the Sacramento/Roseville market is expected to have a 12 percent drop, Veros says.
The Riverside/San Bernardino market is foreseen to have a 15 percent drop.
The other two markets, both in Florida, are Cape Coral/Ft. Myers, down 13 percent, and Palm Bay/Melbourne/Titusville, down 14 percent, Veros says.