San Diego New Home Sales take a Hit in 2007
San Diego, California -With 29 fewer projects actively selling in the fourth quarter of 2007, the new home net sales level dropped for the third consecutive quarter in San Diego County. From an annual perspective, 2007ís total new home net sales level of 6,351 homes is more than 32 percent less than the level of 2006 and 59 percent less than the peak level of 2004.
With a net decline of 24 active projects this quarter, the 203 actively selling projects in the attached sector posted 430 net sales, a decrease of 32 percent from last quarter. Annually, 2007 posted close to 4,000 net attached sales, down 39 percent from 2006 and 59 percent from the peak of 2004, according to data pulled from MarketPointe Realty Advisors, ResidentialTrends publication.
The number of actively selling detached projects decreased this quarter to 159. With this decline in activity, net sales in the sector decreased 20 percent to 349 net sales. From an annual evaluation, 2007 completed a five-year run of declining net sales and finished more than 17 percent below the level of 2006 and 47 percent less than 2005. Compared to the peak level in 2000, 2007ís net sales level represents a drop-off of more than 74 percent.
MarketPointe Realty Advisors has provided real estate research products and consulting services for over three decades. Itís three data products are ResidentialTrends which tracks new home statistics in California LandTracker which tracks proposed developments in Southern California and RentalTrends, which tracks rental properties in San Diego. For a 2007 Annual Southern California Housing Market Report, contact the nearest office; Phone San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1396; url:www.marketpointe.com.
- Contact Information
- Robert Martinez
- Director of Research
- MarketPointe Realty Advisors
- Contact via E-mail
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