There is only one new home available that is over $500,000 and there is only one new home available with 4 bedrooms and both are not on desirable lots. They are building spec homes on lots that are less desirable and when buyers show up looking for a ready to go home with cash in hand they have to choose one of them or go to a used home and that's how they'll get rid of their not so desirable inventory. When they decide the time is right they once again start building larger homes with 3 and 4 car garages on water front lots that will sell like hot cakes at ridiculously high prices.
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