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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (26320)	12/29/2004 1:15:02 PM
From: John Vosilla	Respond to of 306849

<New Home Sales Are Recorded When the Contract is Signed> Builders are limiting the speculative/flipper crowd either to one unit or putting a clause in the contract or condo docs that the property can't be resold for a profit for a period of time (1 year +). You must see what is happening in South Florida and San Diego with all these high end condo projects going up. No way there is anywhere near enough of a true market of owner occupied buyers for all these units. Makes the late 80's commercial overbuilding pale in comparison.

To: mishedlo who wrote (26320)	12/29/2004 2:09:01 PM
From: microhoogle!	Read Replies (1) \| Respond to of 306849

I am wondering if the new home sales are dropping off since the prices are still being raised by the builders v/s existing home sales might have maintained their current momentum with sellers willing to be flexible on the sale price (don't have any stats to back this thought

To: mishedlo who wrote (26320)	12/29/2004 4:20:18 PM
From: Tradelite	Respond to of 306849

<<IMO, the market and traders should pay more attention to the most recent data--which is New Home Sales.>> That might work in terms of giving fairly good picture of the overall market nationally, EXCEPT for the fact that in many highly valued areas of the country, existing home sales probably far outstrip the number of new home sales--any day of the week--because resales of existing homes outnumber the possible new homes which can be built on scarce land. The new-homes inventory--and even the potential to create much of any such inventory in the future-- is pretty limited in heavily developed Northern Virginia, for example.