Silver_fox
New member
It seems to me that home prices in irvine are stable or moving downwards? I dont see crazy list prices anymore, its just me or you people have noticed the same trend?
irvinehomeowner said:New home pricing seems to still be moving up.
The latest quarterly results of home builders Toll Brothers Inc. and Hovnanian Enterprises Inc. provide minimal optimism for the new-home market going into 2015, as consumers remain reticent and builders use more incentives to bolster sales.
Overall, Hovnanian called 2014 ?disappointing? for itself and the broader housing industry. Across the U.S., sales of newly built homes are up by only 1% in the first 10 months of this year from the same period last year.
?I don?t see any evidence of it gaining steam,? said Vicki Bryan, an analyst who covers home builders for bond-research firm Gimme Credit LLC. ?I think it continues to be soft. Coming in with soft (results) vs. last year?s weaker comparables is sobering.?
That?s where incentives have come into play. Several builders, including Hovnanian, have used them to a greater extent to boost sales in recent months. Toll says its incentives have remained constant for the past two years at roughly $20,000 in value, or about 2.5% of its average sales price. That makes a difference for many buyers these days.
lnc said:Irvine's new home sales are doing well but outside of Irvine and outside of few hot markets, new home sales are not doing too well and builder offer incentives in order to move homes. Maybe we will see builder offer incentives in Irvine in the near future too.
Home-Builder Results Provide Muddled, Sober Outlook For 2015
The latest quarterly results of home builders Toll Brothers Inc. and Hovnanian Enterprises Inc. provide minimal optimism for the new-home market going into 2015, as consumers remain reticent and builders use more incentives to bolster sales.
Overall, Hovnanian called 2014 ?disappointing? for itself and the broader housing industry. Across the U.S., sales of newly built homes are up by only 1% in the first 10 months of this year from the same period last year.
?I don?t see any evidence of it gaining steam,? said Vicki Bryan, an analyst who covers home builders for bond-research firm Gimme Credit LLC. ?I think it continues to be soft. Coming in with soft (results) vs. last year?s weaker comparables is sobering.?
That?s where incentives have come into play. Several builders, including Hovnanian, have used them to a greater extent to boost sales in recent months. Toll says its incentives have remained constant for the past two years at roughly $20,000 in value, or about 2.5% of its average sales price. That makes a difference for many buyers these days.
jmoney74 said:IRVINE IS HOT BABY!
Buy to your heart's desire. Government just okay'd 3% down.. what a bargain! I'll take 5.