Recent headlines proclaimed that compared to the first quarter of ’06, only half as many condos sold downtown during the first quarter of this year, but when you consider that ’06 was a record year and that many fewer projects have been announced so far in ’07, the news becomes a lot less sensational.
“The number of units developers sold downtown during the first quarter was about the same as the number they unveiled in marketing programs,” writes Gail Lissner, of Appraisal Research Counselors in her June column for New Homes Magazine. “This means there was no real change in the number of unsold units on the market.”
Read the rest of her insightful column, New Homes Magazine’s Housing Watch.
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