They (and I don't know who they are) say that as the new housing market goes, so goes the real estate industry, the economy, employment, and so much more.
New single-family detached homes for sale in the first week of December has reached a low of just 337, down from a high of almost 1,750 homes in the first week of December 2001.
As of October 31, 2009, 2,310 new homes have closed escrow, down from a high of about 15,500 homes for the same period in 2005.
Housing permits have fallen from a high of about 18,000 in 2003 to a projected 3,200 for 2009.
The record for new home permits is 44,315 in 1986, right in the middle of the 1980s San Diego real estate boom. Construction and real estate experts expect a slight increase to about 4,000 new home permits for 2010. That will help the construction industry intself which should also help the overal real estate industry and the economy in general.
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I'm available 24/7, so feel free to contact me by phone or email.
Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information
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Jim,
Well the numbers from 44,000 to 4,000 is overwhelming.. in difference.. but 4,000 is better than 3,500... so it sounds good! Some of those new home buyers will need to sell their homes... and that IS a good for business in general.