Excuse my ignorance, but these sales figures sure don’t suggest a collapsing market, at least in that neighborhood. Whether sales are new or resale, nonetheless a sale has been made. And strong pricing for the new homes will support, if only temporarily, resale pricing. I was out in Irvine this weekend and looked at several new tracts in Portola Springs neighborhood. Same story. Sales are strong and the parking lots were full. Guess most of the public doesn’t have the same perception that us Pigginton bloggers have.
