We guess this is good news. Home prices are getting a higher rebound bounce here than anywhere else in the nation. Thats the word that came out last week from the Federal Housing Finance Agency, which showed that Merced County had the fourth-highest appreciation in home prices over the past year, and Stanislaus County had the fifth. The highest was the Stockton-Lodi area in San Joaquin County, where home prices rose 24 percent.
We dont have to be reminded that five years ago, our region led the nation in foreclosures and loss of value. Seeing the prices rise is good, though we should all be leery of anything resembling a bubble.
After all these years of being at the bottom, the rebound is noteworthy, Jeffrey Michael, director of the Business Forecasting Center at University of the Pacific, told the Stockton Record. It makes a big difference. Its directly related to the declining foreclosure rate.