The city's largest employer, UC Davis, is facing massive cuts in funding. Unemployment in Yolo county is already up near 13%.
My understanding is campus enrollment is expected to decline due to funding issues. Less housing demand, albeit rental demand.
I don't see much positive for pricing in Davis. It's a nice little town though.
Notice of Defaults: 116 to 69
Notice of Trustee Sales: 158 to 90
REOs Sold to 3rd Party: 7 to 14
Foreclosure Inventory: 76 to 50
It would appear your Countyâ€™s "distressed property" metrics are decreasing, indicating the area is getting more stable; however, you should really contact and work with a local Davis Realtor to look specifically at the type of property you are interested in as generalizing about Real Estate is a risky practice when buying or selling. With 2/3rds+ of US GDP coming from consumer spending and double-digit unemployment stubbornly hovering, a housing recovery certainly may take years. You need to know whether Davis ahead of this timeline or not.
Assuming a static liquidation rate of 4,336 unit per month (this is the highest count since 12/08 - the average over this same period is 2,786) it will take 20+ months to liquidate CURRENT inventory. You can appreciate why I skeptically read the following report: http://docs.Steven-Anthony.com/Recovery2011.pdf With 2/3rds+ of US GDP coming from consumer spending and double-digit unemployment stubbornly hovering, a housing recovery certainly might take years.