13 replies to this topic

[atlasshrugged]

The sales are actually new orders, not to be taken as actual closed purchases. Recent
cancellation rates for the public builders have been anywhere from 20 to 35 percent.
When the numbers are revised, they could show that April sales were actually flat or lower.

the builders can and always will undercut the resale mkt..resales in vegas are off 35%

[Cirrus]

The builders have to dramatically curtail building to correct inventory. The funny thing is that whereever markets are strong you can be assured become targets for the builders. They will channel their resources on those markets from really weak markets in the months ahead. Eventually almost all areas should be impacted to some degree unless land is a severe limitation. Vegas is like Richmond...there are absolutely no land limitations. Most RE markets are in that boat.

[OEXCHAOS]

The sales are actually new orders, not to be taken as actual closed purchases. Recent
cancellation rates for the public builders have been anywhere from 20 to 35 percent.
When the numbers are revised, they could show that April sales were actually flat or lower.

Well, that's a pretty straight forward heads up!

M

[SimpleTone]

http://businesscycle.com/news/1157/