D.R. Horton Flees North
D.R. Horton is looking for greener pastures up north in Redding, according to a company representative. From the Redding Record Searchlight:
"We are expanding into new markets -- Sparks, Nev., and Stockton recently -- and are attempting to test Redding as well," D.R. Horton Marketing Director Fay So said from her office in Sacramento. "We have pretty much saturated the south, so our only choice is to move farther up north..."Will history repeat itself?
"We are on a very aggressive construction schedule," So said. "Obviously, sales are not as strong as they used to be, and models really drive sales. We want to get the models up so the public won't have to guess what they look like..."
D.R. Horton is the first large-scale national home builder to come to Redding since Kaufman and Broad built entry-level homes in the early 1990s. Kaufman and Broad's initial success ultimately proved a detriment as the builder saturated the low-end market and was left with unsold inventory. The company left Redding in the mid-1990s as the real estate market nose-dived.
4 comments:
Does anyone have a paper copy of today's Sacramento Bee? I was wondering if they had a chart with SFH sales by county. I didn't see it online. The Sacramento Bee has published these numbers (as well YOY sales & price figures) every month for over two years.
Anyone?
I use the data for the sales graphs on this site.
I can't believe people are still buying homes, how dense do you have to be.
People still die and retire and form families. The question is why anyone still has any expectation that houses are anything except places to live.
lander,i think i saw it in yesterday's bee...i glanced through it in petaluma yesterday after channeling SMEGMA. i will check the higher sedimentary layers in my car and get back to you.if you wish to channel SMEGMA yourself,you can find instructions for invoking this being in a recent post at the sonoma housing bubble
at least you have the bee,i have to live with the press democrat,their real estate report is written by coldwell banker no less and presented as news!there were a few discrepancies again this week...understating inventory and month's supply by more than 50%...not mentiong that 30% of homes have reduced prices...of course they might have inadvertently used last months inventory figure,it has doubled to an 8 month plus supply...it's a balanced market they say,time to buy.
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