More bad news on the market? Maybe not. New home builders sales are way down. But so are the new home permits. If one was to visit new homes tracts around the most desirable areas of the valley it is getting tougher to find any inventory to buy. There is always a lag in the new home industry. It appears that supply and demand might equalize soon. That could mean good news for the resale community. Home buyers not wanting to wait 6 months for a new home will likely look to the resale market in the coming months. Here is an article in today's RJ.
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Tim,
It all depends on your point of view.
What's bad for a few very large builders is great for tens of thousands of existing home sellers.
The indivual home sellers have always been better for the local REALTOR®, Those big dollar incentives, are law suits waiting to be filed. Stick to honest listings.
Bill
William J Archambault Jr
The Real Estate Investment Institute
First National Mortgage Sources