Escaping Sacramento, Major Homebuilders Rush for the Exits
Apparently Centex is not the only homebuilder backing away from the Sacramento real estate market.
Area builders are scaling back amid a glut of existing homes for sale and rising interest rates, among other reasons. Roseville-based homebuilder consultant John Schleimer said builders have begun backing out of land deals just as buyers are backing out of new homes. "I don't know of a major homebuilder who is not in renegotiations or didn't walk away from lots in the last three months," said Schleimer, owner of Market Perspectives.
1 comment:
yep,lots of price reductions too,sf chronicle had one developer offering $100k k off in all 12 developments ,nice ad,wish the paper was more absorbent.i think it was discovery homes...my immediate thought was "i'm not sure it will be a pleasant discovery"
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