Inland Empire positioned for explosive growth

Posted in Inland Empire Market, San Diego Market, Southern California Market | Posted on 07-25-2014 | Written by Steve Johnson

steve j Local and regional prognosticators are proclaiming the Inland Empire region (Riverside and San Bernardino counties) as positioned well to shortly regain it’s historical position as the leader of California’s new home production.  While often referred to as a bedroom community located east of Los Angeles and Orange counties, the Inland Empire is home to 4.2 million residents and the peak of the last cycle the region delivered a staggering 30,000 new homes per year. Land developers could not produce enough lot inventory fast enough.  It was a daily struggle to maintain a minimum supply to feed the housing demand. Read the rest of this entry »

San Diego Housing Market Metrostudy 1Q14 Survey Results: Start Planning for Future Growth

Posted in San Diego Market | Posted on 05-22-2014 | Written by Metrostudy News

May 22, 2014: Metrostudy’s 1Q14 survey of the San Diego housing market reveals a lot of mixed messages, with both positive and negative signals for future growth. Total Closings for 1Q14 decreased 34% from 4Q13 as homebuyers faced low inventories of new homes. At the same time, 1Q14 new home starts were 1,818, up 200% from 4Q13 and up 130% from 1Q13. The Annual Starts rate was 3,799 units; up 40% compared to the 12 months ending in March 2013.

Starts by County indicate that the San Diego/Imperial new home market accounts for 30% of the entire Southern California new home total starts. When San Diego/Imperial is added to the other I-15 adjacent counties we find the I-15 Corridor maintains a 48 % share of new home activity in Southern California.

“The San Diego economy is an incredible opportunity for the housing industry,” said Steve Johnson, Regional Director of Metrostudy’s San Diego Market. “The diversity of our drivers to growth is the envy of many counties to the north. Prosperity, however, must be matched with the opportunity for home ownership for the talented young people attracted to jobs in technology, biological sciences and other well paying career fields. The problem is San Diego does not have enough developable dirt in the right locations to fuel future population growth.”

The median resale price in San Diego County was $410k in 1Q14, up 14% from 1Q13. The 1Q14 New Home price was $523k, up 9% from 1Q13’s $476k. There presently are approximately only 2.14 months of supply in the resale markets and only a 6.9 Months of Supply in the new detached market and 30 months of supply in the new attached home market.

We are seeing the highest starts volume in the $399k-$549k range; the second most significant price point is $699k-$849k mostly influenced by north county single family product. There are now 1,159 attached and 2,838 detached Vacant Developed Lots in San Diego/Imperial representing a combined 12.6 months of supply.

“The county is planning well with mixed-use communities in many locations but inevitably we need to house some of the future professionals in adjacent markets to the north or south,” said Johnson. “Now would be the time to plan for more public transportation in coordination with adjacent counties to facilitate the movement of people. We have spent too many years building only 2,500 new homes per year and just hoping the market will somehow correct itself. Homebuilders need dirt and we need to find away to make it easier to rezone, reuse and entitle what we can or the jobs will follow housing.”

The San Diego/Imperial new homes market detached total housing inventory remains at a low level with only 911 new homes in the construction process or finished vacant. There were only 2,529 detached homes started in the last 4 quarters throughout the two county market area. The attached product with 2,286 units in total inventory represents 30 months of supply; 506 were finished and vacant, resulting in 6.8 months of supply of finished homes. High Rise product contributed to the huge jump in inventory with most located in the Central submarket.

Homebuyers are facing lots of competition from investors in this market. Absentee buyers using cash or a mortgage represented 27.4 % of all Southland transactions, down from 31.2% a year ago and far above the ten year average of 18.7%. In addition 6.4% of homes sold are foreclosure resales and 7.7% of homes sold are short sale transactions. Investors are purchasing these homes with cash purchases representing 29.1 % of all transactions compared to the 10 year average of 16.5 %.

For information contact: steve johnson @ 951.848.3100
Email sjohnson@metrostudy.com

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide. Established in 1975 in Houston, Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day. www.metrostudy.com

About Hanley Wood

Hanley Wood is the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries. Utilizing the largest editorial- and analytics-driven construction market database, the company produces powerful market data and insights; award-winning publications, newsletters and websites; marquee trade shows and executive events; and strategic marketing solutions. To learn more, visit hanleywood.com.

Tight supply hinders recovery

Posted in San Diego Market | Posted on 02-13-2014 | Written by Metrostudy News

(San Diego, CA – February 13, 2014) In many other markets consumers can turn to the new home market and purchase new, but not in San Diego there is just not enough product available. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

Total closings for 4Q13 decreased 17 % from 3Q13 with 701 homes closed as home buyers frustrated with tight resale markets snapped up homes and down 10 % over 4Q12. Starts for 4Q13 were 676 down 10 % from the 3Q13 and down 6 % from the fourth quarter of 2012. The Annual starts rate was 2,852 units up 14 % compared to the 12 months ending December 2012. Annual closings totaled 3,006 new homes an increase of 18 % when, compared with 2,534 new homes closed through the four quarters ending in December 2012.

“The San Diego/Imperial new home market accounts for 17% of the entire Southern California new home total starts. When San Diego/Imperial is added to the other I-15 adjacent counties we find the I-15 Corridor maintains a 48 % share of new home activity in Southern California,” said Steve Johnson, Metrostudy’s Regional Director for the San Diego Market.

New home total inventory, which is composed of units under construction, finished vacant units and model homes totaled 2,108 units (Not defined as sold or unsold) at the end of 4Q13 representing an 8.4 months of supply. Finished vacant inventory in the San Diego/Imperial market increased less than 1% compared to 3Q13 and included 791 homes representing 37 % of the total inventory (UC/FV/MOD).  Historically finished vacant totaled 18% to 24% of total inventory.

VDL inventory there are now 1,200 attached and 3,075 detached vacant developed lots in San Diego/Imperial representing a combined 17.7 months of supply. “There will be no traction until we build some lots,” said Johnson.

“The day of the San Diego builder doing large scale projects of 200 to 300 homes are over, due primarily, to scarcity of land and high hurdles in the approval process. This lack of supply of new homes will further cause price appreciation and price many homebuyers out of the market,” said Johnson.

About Metrostudy

Metrostudy is the leading provider of primary and secondary market information to the housing and related industries nationwide. Metrostudy provides research, data, analytics and consulting services to help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day. For more information, visit www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries. Utilizing the largest editorial- and analytics-driven construction market database, the company produces powerful market data and insights; award-winning publications, newsletters and websites; marquee trade shows and executive events; and strategic marketing solutions. To learn more, visit hanleywood.com.

The San Diego housing market experienced slow but steady increases in the third quarter

Posted in San Diego Market | Posted on 10-29-2013 | Written by Metrostudy News

(San Diego, CA –October 29, 2013) In many other markets consumers can turn to the new home market and purchase new, but not in San Diego there is just not enough product available. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

Starts and closings for the San Diego/Imperial housing market are a mixed message. Total closings for 3Q13 increased 18 % from 2Q13 with 846 homes closed as home buyers frustrated with tight resale markets snapped up homes and up 33 % over 3Q12. Starts for 3Q13 were 865 up 30 % from 2Q13 and up 40 % from the 3Q12. The annual starts rate was 2,957 units up 23 % compared to the 12 months ending September 2012. Annual closings totaled 3,084 new homes an increase of 22 percent when, compared with 2,524 new homes closed thru the four quarters ending in September 2012.

New home total inventory, which is composed of units under construction, finished vacant units and model homes totaled 2,252 units (Not defined as sold or unsold) at the end of the third quarter of 2013 representing an 8.8 months of supply. Finished vacant inventory in the San Diego/Imperial market decreased 10 % compared to second quarter and included 783 homes representing 34 % of the total inventory (UC/FV/MOD). Historically finished Vacant totaled 18% to 24% of total inventory. VDL inventory there are now 1,200 attached and 3,025 detached vacant developed lots in San Diego/Imperial representing a combined 17.3 months of supply.

The San Diego/Imperial new homes market detached total housing inventory (Not defined as sold or unsold) remains at a low level with only 1,129 homes in the construction process or finished vacant representing a 6.7 months of supply. There were only 2,670 detached homes started in the last 4 quarters throughout the two county market area (not including fire replacement). The attached product with 1,123 units in total inventory a 12.7 months of supply; 521 were finished and vacant, resulting in a 5.9 months of supply of finished homes. This product is primarily high-rise product located downtown in the central submarket.

For information contact:
steve johnson @ 951.848.3100
email sjohnson@metrostudy.com

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide.  Established in 1975 in Houston, Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day.  www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries. Utilizing the largest editorial- and analytics-driven construction market database, the company produces powerful market data and insights; award-winning publications, newsletters and websites; marquee trade shows and executive events; and strategic marketing solutions. To learn more, visit hanleywood.com.

The San Diego housing market experienced minor growth in the second quarter

Posted in San Diego Market | Posted on 08-08-2013 | Written by Metrostudy News

(San Diego, CA – August 8, 2013) The San Diego new homes market is challenged to gain traction due a low inventory of finished lots in the core markets close to employment centers. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The San Diego County economic expansion has slowed but continues to grow year over year with 19,300 jobs thru June 2013. “It is too early to tell whether this pause is the result of sequestration or seasonality or both however it most likely is just a natural pause and the market will continue its solid performance of month after month job creation throughout the San Diego region,” said Steve Johnson, Regional Director of Metrostudy’s San Diego Market. The unemployment rate as reported by EDD is at 7.3 % in San Diego County.

Total closings for 2Q13 decreased 4 % from the first quarter with 714 homes closed as builders ran out of deliverable product and up 13 % over 2Q12. Starts for 2Q13 were 1,466 up 90 % from the first quarter and up 110 % from 2Q12. The Annual starts rate was 3,491 units up 64 % compared to the 12 months ending June 2012. Annual closings totaled 2,873 new homes, an increase of 18 % when, compared with 2,426 new homes closed thru the four quarters ending in June 2012. “The market continues gain traction at a painfully slow rate,” said Johnson.

New home total inventory which is composed of units under construction, finished vacant units and model homes totaled 3,037 units (Not defined as sold or unsold) at the end of 2Q13 representing an 9.0 months of supply. “The low inventory is constraining market expansion,” said Johnson

Finished vacant inventory in the San Diego/Imperial market decreased 6 % compared to first quarter and included 877 homes representing 28 % of the total inventory (UC/FV/MOD). Historically finished Vacant totaled 18% to 24% of total inventory. “Finished detached inventory is limiting buyers who need a house immediately and forcing them to buy resale product,” said Johnson.

VDL inventory there are now 1,208 attached and 3,283 detached Vacant Developed Lots in San Diego/Imperial representing a combined 20.9 months of supply. “The finished lot market is tight, which is impacting buyer choices throughout the region,” said Johnson.

“The future of San Diego new home development certainly will be tied to high density detached and attached products. The young consumers of today will not only accept density but would prefer it if they can walk to restaurants and coffee houses and be only minutes from work. At this point in the cycle, we really need to begin working in tandem with developers to bring these types of projects forward. It’s time to look at our remaining buildable land and maximize the return to the community by sheltering more families close to our core areas,” said Johnson.

For information contact:
steve johnson @ 951.848.3100
email sjohnson@metrostudy.com

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide.  Established in 1975 in Houston, Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day.  www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier media, event, information and strategic marketing services company serving the residential, commercial design and construction industries. Through its operating platforms, the company produces award-winning digital and print publications, Newsletters, websites, marquee trade shows and events, Market Intelligence data and strategic marketing solutions. The company also is North America’s leading publisher of home plans.

The San Diego housing market maintains growth in the first quarter

Posted in San Diego Market | Posted on 05-07-2013 | Written by Metrostudy News

(San Diego, CA – May 7, 2013) The San Diego new housing market is challenged as consumers have snapped up inventory at active projects and builders are slow to bring new projects to market. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The San Diego County economic expansion remains on solid footing with positive job growth year over year of 32,600 jobs thru March 2013. The unemployment rate as reported by EDD is at 7.7 % in San Diego County. The county is better off than the Southern California region at 9.0 % or the State with an unemployment rate of 9.4 % and stronger than the nation with an unemployment rate of 7.6 %. “The unique aspects of the San Diego economy are of course strong defense related industries combined with technology and Biotech firms. This group of industries which are somewhat supportive of one another provides a solid foundation which is usually working on project development which is light years ahead of today’s economy,” said Steve Johnson, Regional Director of Metrostudy’s Southern California, Inland Empire and San Diego Markets.

Total Closings for the first quarter 2013 decreased 4 % from the fourth quarter with 744 homes closed as builders ran out of deliverable product and up a 53 % over first quarter 2012. Starts for the first quarter 2013 were 769 up 18 % from the fourth quarter and up 26 % from the first quarter of 2012. The Annual Starts rate was 2,730 units up 18 % compared to the 12 months ending March 2012. Annual Closings totaled 2,789 new homes, an increase of 20 percent when, compared with 2,308 new homes closed thru the four quarters ending in March 2012. “as home buyers snapped up inventories,” said Johnson.

VDL inventory there are now 1,509 attached and 3,510 detached Vacant Developed Lots in San Diego/Imperial representing a combined 22.9 months of supply. The industry will have difficulty gaining traction unless some company starts finishing lots soon.” said Johnson.

“The Market is exhibiting strong sales at all communities. Sales are up 17% compared to the same time last year. Momentum however may be hard to maintain as the inventory and community count is at historic lows. Pricing is rapidly rising giving many builders concern over sustainability of the market if prices which have already increased 15% continue to increase and demand does not slow,” said Johnson.

For information contact:
steve johnson @ 951.848.3100
email sjohnson@metrostudy.com

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide.  Established in 1975 in Houston, Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day.  www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier media, event, information and strategic marketing services company serving the residential, commercial design and construction industries. Through its operating platforms, the company produces award-winning digital and print publications, Newsletters, websites, marquee trade shows and events, Market Intelligence data and strategic marketing solutions. The company also is North America’s leading publisher of home plans.

The San Diego real estate market continues to improve in 4Q12

Posted in San Diego Market | Posted on 02-05-2013 | Written by Metrostudy News

(San Diego, CA– February 5, 2013) The San Diego County economic expansion continues to gain traction with positive job growth year over year of 20,300 jobs thru December 2012, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The California wide expansion of the tech/communications industry appears to be on solid footing. The unemployment rate is at 8.1 % San Diego County is better off than the Southern California region at 9.4 % or the State with an unemployment rate of 9.8 % although weaker than the nation with an unemployment rate of 7.8%. “The San Diego economy is mirroring the San Francisco Bay Area in regards to out pacing other regional California economies in job creation,” said Steve Johnson, director of Metrostudy’s Southern California Region

Starts and closings for the San Diego/Imperial housing market remain lethargic.  Total closings for the fourth quarter 2012 increased 23% from the third quarter with 780 homes closed and up a mere1 % over fourth quarter 2011. Starts for the 4Q12 were 651 up less than 3 % from 3Q12 and down 12 % from the fourth quarter of 2011. The annual starts rate was 2,571 units up 17 % compared to the 12 months ending December 2011. Annual closings totaled 2,536 new homes an increase of 6% when, compared with 2,391 new homes closed thru the four quarters ending in December 2011.

New Home total Inventory which is composed of units under construction, finished vacant units and model homes totaled 2,553 units at the end of the 4Q12 remaining virtually flat over 3Q12 to an 12.1 MOS. Finished vacant inventory in the San Diego/Imperial market increased less than 1 % compared to3Q12  and included 990 homes representing 38 % of the total inventory. “Historically finished Vacant totaled 18% to 24% of total inventory,” said Johnson. VDL inventory there are now 1,889 attached and 3,440 detached vacant developed Lots in San Diego/Imperial representing a combined 24.9 MOS

“The San Diego economy continues to mirror California’s other strong tech economies with solid influence from Pacific Rim tech industries. This return to normal is a pleasant up lift surely needed in California as the state struggles to recover momentum after falling to the 8th or 9th largest economy depending on who is counting. The San Diego real estate economy remains on the mend with builders renewing their confidence and many several projects looking at redesign to reduce cost where they can. Multi-family is leading the recovery but due to the limited supply of resale homes available continuing price growth is certain to help projects move forward in the next year,” said Johnson.

For information contact:
steve johnson @ 951.848.3100
email: sjohnson@metrostudy.com

About Metrostudy

Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data collected by a staff of 650, the company is recognized for its consulting expertise on development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

Planes, Trains and Automobiles…What is California’s next act?

Posted in Inland Empire Market, San Diego Market, Southern California Market | Posted on 10-26-2012 | Written by Steve Johnson

PLANES: Rarely does fate provide us with a perfect circle of life, but when it does it can be as remarkable as in the home coming of the space shuttle Endeavour. The shuttle program was integral to economic growth in Southern California for over 40 years. Tens of thousands of the southlands residents worked in the Aerospace industry and over 40,000 were employed in the space shuttle production. The program attracted Ivy League graduates and blue collar technicians and these baby boomers wore their pride on their sleeve. The industry impacted hundreds of Mom and Pop machine shops throughout the region creating a burgeoning Mecca of respect for science and technology. Today, the 120 acre Boeing facility in Downey, where many parts were manufactured employing over 12,000 people, is being demolished to make way for new commercial and residential development. Cities across the southlands boomed: in the Mojave Desert such as Palmdale, where the shuttle was assembled, South Orange County sizzled and Inland cities such as Moreno Valley were birthed. Southern California Housing may never have another economic driver as significant as the shuttle program. Fortunately, Southern California does not need one iconic industrial endeavor (no pun intended) to drive industry and growth.  A combination of  Tech, Trade and Tourism are the future of California aligning with coastal county growth.  Change is “afoot” in Southern California.

TRAINS: Growing up in Southern California I often heard my grandparents speak forlornly of the demise of the Red Cars, an early trolley system which enabled them to go from Ontario to downtown L.A.   “Back in the day” many (including my grandparents) blamed a conspiracy of big oil companies for the death of the red car line so that they might close it down. Well…what’s old is new again as we welcome to the development of 21st century light rail service being extended some 50 miles inland over the past 20 years providing some relief to crowded highways while supporting dramatic residential growth. A fair amount of Southern California has embraced the light rail bandwagon.  As an example, Anaheim is breaking ground on a Train Station (regional transportation center) which will cost 184 million dollars resulting in 67,000 S.F. and covers 200,000 square foot of land equal to 4 1/2 football fields, the current station design provides service for Amtrak and light rail Metrolink with 2,700 daily boarding’s with projected daily boarding’s to increase to 10,000 daily in the future.  Orange County, with 40 million visitors a year will have light rail operating during peak commute hours linking bedrooms in the Inland Empire with board rooms and Office towers in employment centers in L.A. and Orange County preparing for the next generation of Southern California mobility.

…AND AUTOMOBILES: Today I stopped at a gas station as I always do when the little light begs to be turned off. I was shocked to pay $4.80 per gallon in Eastvale, California. I got nostalgic for my High School days when I thought 47 cents was a lot to pay. I paused thinking about my grandparents migration to California, settling 2 miles from this very gas station in the early 1920’s…what did gas cost as they crossed the desert in the model T on the old plank road which was used to traverse the sand dunes in those days? We Californians are admired and reviled for our love of our cars.  Having built an incredible highway system which is envied throughout the world, this year we even invented a new word for a highway closure: ‘Carmageddon”…this describes a recent impact of the 48 hour closing of 10 miles of the 405, the nations busiest highway. Californians have long had a love hate relationship with new highways; they hate to see neighborhoods split apart and historic homes moved or demolished but they love the economic impact such as the opening of highway 101 which opened the entire San Fernando Valley to development after World War II.  The result was a blanketing of subdivisions for returning GI’s; movie studio expansions and business expansion. More recently the I-15 was finished in 1989 linking the Inland Counties with Las Vegas and Salt Lake Utah creating a pathway which linked 4 east west highways/corridors and providing incredible opportunities for population growth to out pace local economic drivers as coastal communities provided the jobs and regions such as the Inland Empire produced housing of some 35,000 homes per year at the most recent peak.

While these three elements highlight the structural and economic history of evolving transportation in Southern California, the future lies in the proverbial “next act” as transportation takes a back seat the ascendant quality of future economic influencers gain in prominence. Southern California’s future health will revolve around Trade, Tourism and Technology, laying the foundation for a strong regional economy and and even stronger global economic participant:  hotel occupancy at the highest level in 25 years, technology growth in companies like Qualcomm with 4 chips in the new iphone and by the commitment of OOCL shipping of China to a $4.6 billion 40 year contract with the port of Long Beach. This new unique mix of economic drivers has already proven itself as California has produced almost 300,000 new jobs year over year. Yes, I believe the future promises to be new territory unlike any era Southern California has experienced before.

The San Diego real estate market has turned the corner in 3Q12

Posted in National Housing Market, San Diego Market | Posted on 10-25-2012 | Written by Metrostudy News

(San Diego, CA–October 25, 2012) The worst is probably behind us as we begin to see some price appreciation and limited supply of resale homes, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The San Diego County economic expansion continues to gain traction with positive job growth year over year of 28,000 jobs thru September 2012. “The California wide expansion of the tech/communications industry appears to be on solid footing,” said Steve Johnson, director of Metrostudy’s Southern California Region. With the unemployment rate at 7.1 % San Diego County is better off than the Southern California region at 9.6 %, or the State with an unemployment rate of 9.7 % and the nation with an unemployment rate of 7.6 %.

“Starts and Closings for the San Diego/Imperial housing market have turned the corner in 3Q2012” said Johnson. Starts for 3Q12 were 631 down less than 1 % from 2Q12 and up 80 % from 3Q11. The Annual Starts rate was 2,670 units up 44 % compared to the 12 months ending September 2011. Closings for 3Q12 increased less than 1 % from 2Q12 with 638 homes closed and up 18 % over 3Q11 Annual Closings totaled 2,529 new homes a increase of 11 percent when, compared with 2,278 new homes closed thru the four quarters ending in September 2011.

New home inventory for the San Diego market totaled 2,324 units at the end of 3Q12 remaining virtually flat over 2Q12 to an 11.6 MOS. Finished Vacant Inventory in the San Diego/Imperial market increased less than 1 % compared to 2Q12 and included 807 homes representing 34 % of the total inventory (UC/FV/MOD). “Historically finished Vacant totaled 18% to 24% of total inventory,” said Johnson. VDL inventory there are now 1,889 attached and 3,716 detached Vacant Developed Lots in San Diego/Imperial representing a combined 25.2 MOS.

“The worst is probably behind us as we begin to see some price appreciation and limited supply of resale homes. We have even heard of multiple bids coming in on listings. These recoveries do take a long and winding path. Stability in Jumbo loans is important as it helps move up buyers become confidant that if they list their house they can actually buy a replacement house.,” said Johnson.

For information contact:
steve johnson @ 951.848.3100
email sjohnson@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data collected by a staff of 650, the company is recognized for its consulting expertise on development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com

11/08/12: Metrostudy 3Q 2012 Southern California Executive Market Briefing

Posted in Events, National Housing Market, San Diego Market, Southern California Market | Posted on 10-08-2012 | Written by Steve Johnson

You are invited to the Third Quarter 2012 Metrostudy Inland Empire Executive Market Briefing.

RSVP online at: http://alturl.com/q4jdh

The briefing is scheduled for the following:

When: Thursday November 8th 2012

Where: Hidden Valley Golf Club – 10 Clubhouse Drive, Norco California
From I-15 exit at Hidden Valley Parkway Rd. Go East on Hidden Valley Parkway. Go 1.5 miles to Norco Hills Road to Hidden Valley Golf Club parking lot From the 91 Freeway take the McKinley exit go West to Norco Hills Road.

Schedule: 8:00 a.m. Continental Breakfast
8:45 a.m. Market Briefing Begins
10:00 a.m. Market Briefing Adjourns

This is an invitation only event. Attendees will include only current clients and invited guests from homebuilder, developer, and lender organizations. Please feel free to forward the above link to any of your associates as there is no limit to the number of people who attend from client companies. I have also attached an RSVP form for any of your associates who are unable to register online.

If you have questions, please don’t hesitate to call me at (951) 848-3100 Ext 103

I look forward to seeing you at the briefing.

Steve Johnson
Director Southern California Metrostudy
6109 Camino Real
Jurupa Valley, Ca 92509

RSVP online at: http://alturl.com/q4jdh