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Sales of New Homes Rebounding In O.C.

After dropping to a record low in the winter, new-home sales have rebounded in Orange County. chart This could be the beginning of the recovery.

Due to the fact that resale homes are in less supply and are being picked off the market quickly, it may be in many homebuyers best interest to purchase a new home. Homebuyers know what to expect when they purchase a new home, rather than a foreclosure and many feel that if they ever want to purchase a new home now is the time since the market is down. This trend is primarily happening west of the 15 freeway though.

Builders are reaping the benefits – the number of contracts sold rose 42% from last year. It was the first year-over-year sales gain in the past six quarters. Net sales doubled from the first quarter of 2009 to the second, and then climbed 13% more last quarter.

Posted by Adam Brett - Fullerton, California Realtor on 10/25/2009 05:20 PM

Comments (2)

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2 Comments on Sales of New Homes Rebounding In O.C.

OCT

Adam - glad to hear your market is picking up. I hope this is only the start of a nice comeback.

New homes are a much better buy in this market. The prices have come way down, builders are offering incredible incentives and closing costs in many markets and they have undercut the price of resales that need a lot of work.

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