The Roseville real estate market, part of California's Central Valley and a subsidiary of the larger Sacramento real estate housing market, is seeing substantial weakness despite some inklings of strength after the expiration of the federal housing tax credit. An article from the Sacramento Business Journal noted that this trend was mirrored at the state level as well. According to the August 23, 2010 report, "New-home sales in Sacramento and statewide continued their downhill slide in June, the California Building Industry Association reported Monday. The monthly report by CBIA/Hanley Wood Market Intelligence showed statewide new-home closings in June were off 36 percent from a year ago. During the month, 2,454 new homes and condominiums were closed across the state, compared to 3,848 a year earlier. Closings of single-family homes were down 17 percent, while sales of townhomes were off by 57 percent. Condo sales were 67 percent lower than a year ago. The sale of new single-family homes in Sacramento fell 17.8 percent in June compared to a year earlier, but the 203 closings still represented a 16 percent rise from May’s 175 sales. The median price of Sacramento-area new homes, meanwhile, rose year-over-year 2.2 percent to $312,700. That’s down $1,000 from May. Statewide, compared with the same period last year, the median base price of homes sold was 3 percent higher than a year ago."
Roseville homes for sale actually fared better than the rest of the country, although the declines in the region were still substantial. According to an August 23, 2010 article also from the Sacramento Business Journal, "California’s existing home sales — including the Sacramento region — fared slightly better. The Golden State’s existing home sales fell 20.8 percent in July, compared to June. Despite the drop in sales, the state’s median home price increased 10.4 percent to $314,850 in July, compared to a year ago, according to the California Association of Realtors. Statewide, home prices have increased nine consecutive months — including seven straight months with double-digit gains compared to a year earlier... Home prices dipped 3.6 percent to $285,000 last month in the county, with Granite Bay and Rocklin homeowners suffering the largest declines at 12.1 percent and 7.6 percent, respectively."