New home market expected to improve in 2010

By
Real Estate Agent with HomeSmart Realty West CalBRE #01458572

My owner is a Realtor at Century 21 Award in Mission ValleyThey (and I don't know who they are) say that as the new housing market goes, so goes the real estate industry, the economy, employment, and so much more.

New single-family detached homes for sale in the first week of December has reached a low of just 337, down from a high of almost 1,750 homes in the first week of December 2001.

New detached homes for sale

As of October 31, 2009, 2,310 new homes have closed escrow, down from a high of about 15,500 homes for the same period in 2005.

Total new homes sold as of October 31

Housing permits have fallen from a high of about 18,000 in 2003 to a projected 3,200 for 2009.

Total permits

The record for new home permits is 44,315 in 1986, right in the middle of the 1980s San Diego real estate boom. Construction and real estate experts expect a slight increase to about 4,000 new home permits for 2010. That will help the construction industry intself which should also help the overal real estate industry and the economy in general. 

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I'm available 24/7, so feel free to contact me by phone or email.

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

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Rainmaker
284,882
Carra Riley
Realty ONE Group Premier Colorado - Denver, CO

Jim,

Well the numbers from 44,000 to 4,000 is overwhelming.. in difference.. but 4,000 is better than 3,500... so it sounds good!  Some of those new home buyers will need to sell their homes... and that IS a good for business in general.

Dec 14, 2009 02:19 PM #1
Rainmaker
724,941
Ann Hayden
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Jim,

I am not sure who "they" are either but I hope they are right about this...

Ann Hayden in Wildwood, MO

Dec 14, 2009 11:38 PM #2
Rainmaker
981,145
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Jim, these are interesting statistics - are they from the Builders' Association? When new home construction comes back, so many subcontractors will have work. Yes, it does affect the whole economy. When someone buys a home, it triggers something like 300 buying events. With a new home, it's even greater - window treatments, fencing, new furniture, etc.

Dec 15, 2009 09:27 AM #3
Rainmaker
981,145
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Oops, just re-read the beginning of the post where you say you don't know who 'they' are. BTW, your graphs are great. They are easy to read and tell the story well visually.

Dec 15, 2009 09:29 AM #4
Rainmaker
1,109,053
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Hey, Carra - I remember the building boom of the 1980s. That's when I first moved to San Diego. Everywhere one looked there were subdivisions, apartments, condos, and strip malls being built.

Hey, Ann - I just hope it's not the same they who took care of the economy, the auto industry, the insurance industry, and the banking industry over the last few years.

Hey, Sharon - I'm not sure who keeps track of these types of statistics for San Diego County, but the statistics come out every quarter or so. Maybe the source is in the fine print which I can't read anymore because it's so small and I'm so old. Thanks for the kind words on my graphs. I keep trying to make some fancy graphs, but I'm not quite that literate in using Excel, and my marketing guru wasn't home to help me, so I just did the best I could.

Jan 09, 2010 06:42 PM #5
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Rainmaker
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Jim Frimmer

Realtor & CDPE, Mission Valley specialist
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