STOCKTON, CA—Have home prices fully recovered from the declines suffered during the Great Recession, or are they still struggling to make it back to the peaks they reached before the crisis? Despite Stockton metro home prices climbing some 82.91% from crisis-era lows, it is one of 10 US metropolitan areas that still has the furthest to go to achieve full recovery, as prices in the metro were still 39.08% below boom-era peak values in the third quarter of 2016, according to HSH.com.
Stockton is one of the areas with the largest recovery gaps. Areas with higher peak deltas are Bakersfield, CA and Las Vegas. Whether or not a specific home is now above or is still below the value when it was purchased depends on when it was purchased.
It is somewhat a tale of two cities in Stockton. Despite the lagging of the residential market, many believe the Stockton commercial market is farther along in the recovery process. One example is the sale of two Stockton apartment communities for a combined total of $15.9 million to buyer Patmon Sorrento LP.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.