New home sales fall
October new-home sales in the region dropped in October.
North State Building Industry Association figures released Wednesday show 251 sales in the region — down from 452 in October 2017.
Michael Strech, building association president, said sales figures are in line with a cyclical slowdown that’s typical for the fall.
A total of 10,782 people visited new-home communities last month. The association takes in a region that includes Placer and Sacramento counties. Placer County led the region in October with 59 sales.
“Our members are reporting quality traffic, which suggests that while the market may be leveling off, there are still plenty of homebuyers eager to find new homes,” Strech said.
The fall sales figure is the lowest for the region since 2014, when 138 sales were recorded.
The “sweet spot” in October for pricing was in the $351,000 to $400,000 range, with 49 homes sold.