Reported in the Sacramento Business Journal:

Sacramento has become one of the nation's best buyers market -- but the fifth-worst for home-sellers, according to a recent Forbes report. Forbes says:

Median home price: $356,500 Annual price change from 2006: -6.3% Projected price change to 2008: -7.9%

Another market that could potentially feel positive effects from a loan cap raise, Sacramento was a hotbed of speculation at the tail end of the housing boom. Now there are simply too many unsold homes on the market and sellers looking to unload property are stuck in one of the nation's strongest buyers' markets.

The region's average single-family home price has declined 6.3 percent from 2006, and real estate experts say a 7.9 percent drop is likely in 2008, according to the national magazine's online edition. The median price in the region is $356,500.

Sacramento's hard-hit housing market is better than Detroit, Riverside, Las Vegas and Los Angeles, which ranked first through fourth, respectively. Phoenix finished at No. 6, followed by the four major markets in Florida -- Orlando, Fort Lauderdale, Tampa and Miami.

All of the markets are battling from an abundance of bank-foreclosed properties and greatly lower prices compared to a year ago.