Price Stability Emerges In California
“For the first time since we began our home builder executive survey 15 months ago, more California builders reported raising prices than those who reported prices were flat or down,” said Jody Kahn, vice president of Irvine, Calif.-based John Burns Real Estate Consulting. The survey’s color commentary underscores the positive effect of federal intervention, though most builders also expressed concern about their prospects for the next six months as the Nov. 30, 2009 expiration of the federal tax credit approaches. Other findings include an increase in net sales per community, a drop in cancellation rates, and an appreciation in prices and starts in California.
—Kimberly Turner
