Even as low prices on foreclosures have attracted a swarm of home buyers, sales of newly built houses have plummeted to lows builders once thought unfathomable, the North County Times reported.
In a report released Thursday, the California Building Industry Association reported that just 41 new homes sold in November throughout San Diego County, down from 300 a year earlier. The number represented a decline of 86 percent.
"It's incomprehensible in a county of San Diego's size; it's just incomprehensible," Mark Connal, sales director for Michael Crews Development told the paper. "These are numbers nobody has dealt with before. Nobody knows what to do about them or what to make of them."
For the full story read the North County Times article "Sales of New Homes Sink to Incomprehensible' Lows."