New home sales up in California down in other states.

The Los Angeles Times reported today that new home sales has declined nationally, but, California showed strength.

The article cites buyer's response to builder's discounts and incentives to be the source of California's new home sales strength overall. Reported national sales figures were down 18.3% and showed western state's new home sales up 24.6%. (California's figures included with ‘western states'.)

Orange county showed the second highest gains at 16% for California and Sacramento took the number one spot at 37% increase.

So come on builders, bring your bulldozers and lets sell some homes. Even if it does take a few years to get past the EIR stage. J

TeamResults@Century21.com
John Wall, Residential & Investment Properties
Long Beach, CA. (562) 433-1914

Posted by John Wall on 03/27/2007 02:59 PM

Comments (6)

new homes, real estate, california, team results, john wall, realty, builder, sales

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Post is included in group: Southern California Home Builders

6 Comments on New home sales up in California down in other states.

MAR

2007

Congratulations to California. I hope it spreads to the east!

The Contra Costa Times shows Sacramento is number 2 in defaults. Up 79% from the previous month. I think we need to read between the lines on this one I am not sure we ready to "bring your bulldozers and lets sell some homes" the market will show more tumble. Your more than likely seeing investor buy outs REO properties. I don't doubt your research I doubt your sources accuracy.

Source:

http://www.contracostatimes.com/mld/cctimes/business/16980130.htm

http://cbs5.com/business/local_story_074181306.html

John, me thinks thou dost protest too much. Did you have "short side" options on the sub-prime companies or the home builder stocks?

The market is indeed much healthier since December 26th of 2006. I have put my stamp on that day, the day after Christmas, as the beginning of this next big 5-10 year real estate rally!

I am just going on history, and historically there is going to be a rebound period before another Real Estate cycle can occur. There will always be buying and selling happening in the market place, and more during certain times of the year but we are defiantly not in the mist of another major boom. Especially in California. Check the sources above.

Sorry if I sound glass half empty but things are sitting longer and foreclosures are up and are normally sold to cash paying investors.

We have never seen a aftermath from a market like this and frankly I am acting in a economic liberal fashion in this times.

This is why I like these blogs Steve. We get to hear from all over.

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