- This topic has 215 replies, 15 voices, and was last updated 14 years, 1 month ago by outtamojo.
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June 23, 2010 at 11:49 PM #571341June 24, 2010 at 1:51 AM #570371CoronitaParticipant
Well looks like more bailout money is coming to CA… π
June 24, 2010 at 1:51 AM #570464CoronitaParticipantWell looks like more bailout money is coming to CA… π
June 24, 2010 at 1:51 AM #570974CoronitaParticipantWell looks like more bailout money is coming to CA… π
June 24, 2010 at 1:51 AM #571081CoronitaParticipantWell looks like more bailout money is coming to CA… π
June 24, 2010 at 1:51 AM #571371CoronitaParticipantWell looks like more bailout money is coming to CA… π
June 24, 2010 at 10:05 AM #570346Diego MamaniParticipant[quote]Sales of new homes plunged a record 33% in May to a record-low level after a federal subsidy for home buyers expired, according to data released Wednesday by the Commerce Department (…)
Sales fell sharply in all four regions, with sales down more than 50% in the West.[/quote]Do we have equivalent data for So Cal only?
June 24, 2010 at 10:05 AM #570440Diego MamaniParticipant[quote]Sales of new homes plunged a record 33% in May to a record-low level after a federal subsidy for home buyers expired, according to data released Wednesday by the Commerce Department (…)
Sales fell sharply in all four regions, with sales down more than 50% in the West.[/quote]Do we have equivalent data for So Cal only?
June 24, 2010 at 10:05 AM #570949Diego MamaniParticipant[quote]Sales of new homes plunged a record 33% in May to a record-low level after a federal subsidy for home buyers expired, according to data released Wednesday by the Commerce Department (…)
Sales fell sharply in all four regions, with sales down more than 50% in the West.[/quote]Do we have equivalent data for So Cal only?
June 24, 2010 at 10:05 AM #571056Diego MamaniParticipant[quote]Sales of new homes plunged a record 33% in May to a record-low level after a federal subsidy for home buyers expired, according to data released Wednesday by the Commerce Department (…)
Sales fell sharply in all four regions, with sales down more than 50% in the West.[/quote]Do we have equivalent data for So Cal only?
June 24, 2010 at 10:05 AM #571346Diego MamaniParticipant[quote]Sales of new homes plunged a record 33% in May to a record-low level after a federal subsidy for home buyers expired, according to data released Wednesday by the Commerce Department (…)
Sales fell sharply in all four regions, with sales down more than 50% in the West.[/quote]Do we have equivalent data for So Cal only?
June 25, 2010 at 12:27 AM #571232CA renterParticipantFrom the article:
Home builders continued to shed inventories in May, cutting the number of unsold homes by 0.5% to 213,000, the lowest level in 39 years. In the past year, inventories are down 27%, while sales are down 18%.
The inventory of unsold homes represented an 8.5-month supply at the depressed May sales pace, up from 5.8 months in April and the highest in nearly a year.
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Their YOY sales/inventory numbers look pretty good, IMHO.I think the low sales are largely due to the fact there is very little new inventory. In the past few years, builders have been pulling the fewest permits and have had the lowest start rates we’ve seen in decades, IIRC. It’s no surprise they aren’t selling what doesn’t exist.
I think what extra new inventory does exist is in very remote or undesirable locations and will essentially have to be given away or bulldozed.
The fact that builders are not ramping up permits and starts is something we should all be paying attention to. They’ve been doing this a long time, and if they aren’t building, chances are they don’t believe the “recovery” myth.
I see no reason to believe things will get better from here on out.
June 25, 2010 at 12:27 AM #571329CA renterParticipantFrom the article:
Home builders continued to shed inventories in May, cutting the number of unsold homes by 0.5% to 213,000, the lowest level in 39 years. In the past year, inventories are down 27%, while sales are down 18%.
The inventory of unsold homes represented an 8.5-month supply at the depressed May sales pace, up from 5.8 months in April and the highest in nearly a year.
———————–
Their YOY sales/inventory numbers look pretty good, IMHO.I think the low sales are largely due to the fact there is very little new inventory. In the past few years, builders have been pulling the fewest permits and have had the lowest start rates we’ve seen in decades, IIRC. It’s no surprise they aren’t selling what doesn’t exist.
I think what extra new inventory does exist is in very remote or undesirable locations and will essentially have to be given away or bulldozed.
The fact that builders are not ramping up permits and starts is something we should all be paying attention to. They’ve been doing this a long time, and if they aren’t building, chances are they don’t believe the “recovery” myth.
I see no reason to believe things will get better from here on out.
June 25, 2010 at 12:27 AM #571847CA renterParticipantFrom the article:
Home builders continued to shed inventories in May, cutting the number of unsold homes by 0.5% to 213,000, the lowest level in 39 years. In the past year, inventories are down 27%, while sales are down 18%.
The inventory of unsold homes represented an 8.5-month supply at the depressed May sales pace, up from 5.8 months in April and the highest in nearly a year.
———————–
Their YOY sales/inventory numbers look pretty good, IMHO.I think the low sales are largely due to the fact there is very little new inventory. In the past few years, builders have been pulling the fewest permits and have had the lowest start rates we’ve seen in decades, IIRC. It’s no surprise they aren’t selling what doesn’t exist.
I think what extra new inventory does exist is in very remote or undesirable locations and will essentially have to be given away or bulldozed.
The fact that builders are not ramping up permits and starts is something we should all be paying attention to. They’ve been doing this a long time, and if they aren’t building, chances are they don’t believe the “recovery” myth.
I see no reason to believe things will get better from here on out.
June 25, 2010 at 12:27 AM #571955CA renterParticipantFrom the article:
Home builders continued to shed inventories in May, cutting the number of unsold homes by 0.5% to 213,000, the lowest level in 39 years. In the past year, inventories are down 27%, while sales are down 18%.
The inventory of unsold homes represented an 8.5-month supply at the depressed May sales pace, up from 5.8 months in April and the highest in nearly a year.
———————–
Their YOY sales/inventory numbers look pretty good, IMHO.I think the low sales are largely due to the fact there is very little new inventory. In the past few years, builders have been pulling the fewest permits and have had the lowest start rates we’ve seen in decades, IIRC. It’s no surprise they aren’t selling what doesn’t exist.
I think what extra new inventory does exist is in very remote or undesirable locations and will essentially have to be given away or bulldozed.
The fact that builders are not ramping up permits and starts is something we should all be paying attention to. They’ve been doing this a long time, and if they aren’t building, chances are they don’t believe the “recovery” myth.
I see no reason to believe things will get better from here on out.
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