New Homes are still selling in Stockton and San Joaquin County - weekending 9/26/10

Manteca continues to be the New Homes "hot spot" as eight new releases were added to new homes inventory in San Joaquin County this week. Builders are currently breaking ground on an annualized number of 598,000 down from the 2 million unit pace of 2005. However, according to the Wells Fargo Weekly Economic and Financial Commentary, "despite cheery headlines that pointed to the magnitude of the percentage gains in this week's housing data, the state of the residential real estate market remains abysmal." The commentary continues with the observation that while there was an increase in housing starts, most of the impact was in multi-units.

The following information has been extracted from New Homes Sales and Marketing reporting companies and on-site visits for the week ending 9/26/10:

San Joaquin County: Total Projects Reporting: 25; Traffic: 246; Sales: 10; Cancellations: 1; Net Sales: 9; YTD Sales: 457

Focus on Stockton: Total Projects Reporting: 4: Traffic: 43; Sales: 2: Cancellations: 0; Net Sales: 2; YTD Sales: 71

Lathrop reporting 3 projects: 4 new releases, 17 in available inventory;

Linden reporting 1 project: 4 new releases, 4 in available inventory;

Lodi reporting 0 projects: no other information available

Manteca reporting 12 projects; 0 new releases, 101 in available inventory;

Mountain House reporting 4 projects: 0 new releases, 25 in available inventory;

Stockton reporting 4 projects: 0 new releases, 43 in available inventory;

Tracy reporting 1 project: 0 new releases, 5 in available inventory;