I believe that once a project is launched it’re very hard to stop unless at a big loss.

Now is the time to monitor the new developments coming online. This past week-end I went to San Elijo Hills for the first time just to see. There was one development (i don’t remember name) on phase 1 with only one house sold. I also drove around and saw quite few “for sale” signs in most neighborhoods.

Builders are generally ahead of the market so we’ll see some price reductions in the fall.

On the resale market, I noticed that condos that last year sold for $350,000 are now $299,000.