Business Journal: New Home Market Up
Sacramento area home builders are reporting the first bit of good news in a while.
Wednesday, October 17, 2007
Sacramento’s new-home market did something in August that only one other community statewide can claim – a sales increase, according to Hanley Wood Market Intelligence. Homebuilders in the region sold 356 homes in August, 6% more than August 2006, when just 336 homes were purchased. Price may well have been a factor. The homes that did sell brought in 9% less than the sales price a year earlier. Sacramento and Orange County were the only two major markets in California to post an increase. Statewide, home sales in August were down a whopping 43%.