An Impressive 42% New Home Sales Volume Increase in San Diego County, Q2, 2008
San Diego, California, July, 2008 - Despite headlines touting pending national economic doom, there are signs that the new home market in San Diego County may have reached bottom. After four consecutive quarters of marked sales volume decline beginning in the first quarter of 2007, net sales volume recovered this quarter to post an impressive 42 percent increase, reported MarketPointe Realty Advisors.
The new home attached sector was responsible for the bulk of the overall volume increase gaining more than 74 percent this quarter to 586 net sales while the detached sector chipped in with a 16 percent increase to 476 net sales. “We have been hesitant to claim the San Diego market has hit bottom and is on the mend. But with the second quarter new home sales findings, we are sighing relief here at MarketPointe Realty Advisors, and are hoping for the positive trend to continue,” said Russ Valone, President.
Top three selling detached projects this quarter come from one private and two public builders, Cabrillo @ Del Sur by Standard Pacific (NYSE:SPF), Pienza @ 4S Ranch by Fieldstone Communities, and The Terraces @ Eureka Springs by Centex Homes (NYSE:CTX). Top three selling attached projects this quarter come from BayView Tower by Pacifica Companies, Balboa Ridge by Maisel Presley, Inc. and Villa Bonita – Paradise Hills by Hammer Development.
MarketPointe Realty Advisors provides new housing market statistics throughout California via its ResidentialTrends new-home database and its LandTracker proposed development database, as well as site specific, tailored housing market research and consulting services. Comprehensive “Housing Market Overviews” providing new home sales, pricing, housing inventory trends, future housing supply, and new and leading developments are available for regions across California by going to www.marketpointe.com/landing/. Phone San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1396; url:www.marketpointe.com.
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- Russ Valone
- MarketPointe Realty Advisors
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