While few economic reports were published this week, the overall atmosphere indicated a more optimistic economic picture for 2011. The primary issues seem focused on the trade balance and unemployment claims. Current reports however, indicate a slipping in new homes starts across the country.
The Wells Fargo Weekly Economic and Financial Indicator suggests that “if we continue to see improvement in retail sales numbers, it may signal stronger contributions to fourth quarter GDP growth from personal consumption expenditures.”
The following information has been extracted from New Homes Sales and Marketing reporting companies and on-site visits for the week ending 11/14/10:
Focus on Stockton: Total Projects Reporting: 4: Traffic: 42; Sales: 1: Cancellations: 0; Net Sales: 1; YTD Sales: 83
San Joaquin County: Total Projects Reporting: 26; Traffic: 233; Sales: 12; Cancellations: 1; Net Sales: 11; YTD Sales: 546
Lathrop reporting 3 projects: 0 new releases, 15 in available inventory;
Linden reporting 1 project: 0 new releases, 2 in available inventory;
Lodi reporting 0 projects: no other information available
Manteca reporting 13 projects; 0 new releases, 68 in available inventory;
Mountain House reporting 4 projects: 0 new releases, 12 in available inventory;
Stockton reporting 4 projects: 0 new releases, 31 in available inventory;
Tracy reporting 0 project: 0 new releases, 0 in available inventory;
Over the past four weeks comparing new homes market areas in San Joaquin County, the week-to-week trend
seems to remain the same. The only “blip” is in Mountain House.
Manteca has added two new projects during the month which increased available inventory. Two weeks ago Mountain House added inventory which has been absorbed in sales within the two-week period.
Traffic patterns for the area projects remain lackluster. Site representatives tell us that few agents are registering clients with the projects. Sales, while not “off-the-charts” have been remaining steady throughout all projects at 10 to 12 per week.
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