New home sales are up 42 percent in the Orange County Area. The new home sales are up and that is good new for the area. Is this the recovery? No one is ready to state that but it is a good sign.
The short sale and bank owned properties have been leading the way but now we have new home sales up and by a big percentage. Not only are the number of new home sales up the prices have been inching up as well.
We do know that there has been a drop in inventory and that can effect the market. Some may have been trying to just get a home.
This is the first year over year gain in new home sales in the 6 months.
The average price for an attached unit was $446,476 last quarter down from $582,650 in the third quarter of 2007. Note that last quarter the average price was $582,650 in the third quarter of 2007.
Tim Lorenz
Instant MLS Listings & Free Market Analysis
"We have actually closed many short sales!"
949-282-2521
Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!
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