New Home Sales on the Wane in the OC
Corelogic recently reported that new home sales in Orange County experienced an unbroken downward streak from November 2014 through September 2015. This downward trend runs counter to what has been happening nationally and in other parts of Southern California. While OC housing bulls might point to a lack of available supply as a reason for lower sales figures, the bears would point to less housing market participation on the part of Chinese buyers and runaway pricing as reasons why sales have dropped to lower levels.
About author
You might also like
New Normal for Homebuilding?
Nobody needs to be reminded that homebuilding is a highly cyclical business. However, each cycle also has its own characteristics, nuances and trajectories. Certainly, our most recent cycle, which both
Headwinds at Home Causing Pause in Chinese Buying
This past year, Chinese buyers overtook Canadian buyers as the top foreign purchasers of US real estates with expenditures of $28.6 billion. The influence has been felt disproportionately at the
Tight Mortgage Standards Hold Back Bottom End of Housing Market
In what is one of the primary themes running through the current housing market, tight credit standards continue to constrain lower-income buyers from purchasing homes. Compounding the impact of the
