If you can’t find a sales agent to help you at new housing projects in the county, don’t be surprised.
Sales are up 17 percent over year-ago levels, and there’s not much inventory of unsold units available, according to the New Housing Monitor published by the Hanley Group in Oceanside.
Are new construction valued differently than older homes? Contact the appraisers at www.scappraisals.com for your value questions.
As of March 31, 775 homes — 519 detached and 256 attached — had been sold since the beginning of year, compared with 661 for the same period last year. That’s the highest for this time of the year since April 2007’s 2,119 sales in the pre-bust cycle.
The number of weeks of inventory at the current sales pace dropped to only 5.6 weeks, the lowest for the same week of the year since the five-week level in 2004. Inventories rose to as high as 57.4 weeks for the same point in 2008 on the eve of the Great Recession.
This year, the opening inventory for the second quarter included 336 new houses, condos and townhouses for sale, down 68.1 percent from 1,054 homes at this same period last year.
Homes planned but not yet released or built totaled 12,646, but builders are not moving fast enough to replace the sold units with new ones.
Read more at: http://www.utsandiego.com/news/2013/apr/13/tp-new-homes-getting-hard-to-find-in-san-diego/
Disclaimer: for information and entertainment purposes only
Green Real Estate Appraiser 