Tuesday, May 21, 2019

How low does it go?

Southern California builders, swamped with unsold homes, cut construction to 3-year low.

The volume of unsold, finished homes is up 22% in a year as construction is slashed by 18%.


  1. Seeing the same thing here in the Midwest. The best market is currently in the mid-range level ($200k - $350k), but the builders are getting nervous about the 2008 vibes.

    I just told a realtor that he would have to drop his price 25% on a property in order to get me interested. He is going to the owner with it. This particular house has been on the market for 60 days or so with zero interest. More than a few houses in this price range ($700k+ with 5+ acres) have been sitting on the market for 1 - 3 years.


  2. Woooooow. That's intense. Let me know if that buyer jumps on a 25% haircut. And thanks for sharing market conditions in your area.