Quote:
Originally Posted by Altavia
It is increadable to watch.
They are still at normal pace selling 70-100 homes a week and 2-3 months inventory is not unusual historically.
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I was a contractor all my life. I have seen many ups and downs in the housing market. Looking at past sales to predict the future is NOT RELIABLE. Buyers wants and needs ALWAYS change over time. Currently, we are in a buyers market. Years past, it was a seller's market. HUGE DIFFERENCE.
You can't look at the Developer's numbers. Those are HIS and HIS alone. When an individual places their home on the market, his/her result will vary. Some may make a much larger profit on their individual home than the Developer. (This is the reason for his one year rule) Or, some may have to take a loss. Others may see minimal profit, while some will not be able to sell no matter the amount of price reduction.
The developer carrying 1-2 months of inventory historically may no longer work. It certainly did not in Lake Denham and Dabney. Again, buyer's WANTS change. The developer may have to reconfigure his model to meet the new demands. I believe he will do just that.