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 NOV. 30, 2006
New Homes Sales in California on the Rise
The Southern California real estate market has seen an increase in sales of new homes compared to 2005.

The data was collected on a weekly basis by the data research firm of Ryness Co. One report shows that buyers in Santa Clara County viewed fewer homes during the week of November 19 than a year ago, however the tours created 32% more sales than in 2005.


Ryness Co. reports that Santa Clara county is doing the best and that some new home builders are starting to run low on inventory.

The National Association of Home Builders (NAHB) reports that builder confidence rose slightly in the month of November for the second consecutive month. This bit of good news may be a sign that the current trend may be more widespread than in just one specific region of the country. In June of 2005, the confidence index peaked at 72%. The index hit a low of 30% in September 2006 when confidence was very low. The November index reports a slight increase in confidence of 33%.

Most builders feel that the next housing rebound will not hits until 2008. In the meantime, they expect to continue to see smaller pockets of improvement around the country.

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