Robert Freed, president and CEO of SummerHill Homes interviewed by Carolyn Said of San Francisco Chronicle …”We’ve definitely seen an uptick in buyer traffic and an increase in sales velocity that appears to be driven both by the tax credits as well as very favorable interest rates and very favorable new home pricing,” Freed said…
He and others said the No. 1 driver of both traffic and buyers is simple: Low prices.Â
“Prices have fallen in parts of this state to where they’re beginning to make sense again,” said Christopher Thornberg, principal of Beacon Economics in Los Angeles. “You’re starting to see people move into the market. I know everybody will claim their particular incentive did the trick, but I would argue that price declines trump all.”
Read more of this article on SFGate.