New Home Sales on the Wane in the OC

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.

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Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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