California Building Industry Association

The pace of home sales at California new-home communities rose above year-ago levels in October for the first time since December of 2006.

Construction of new homes in California continued to decline in October, prompting homebuilders to call on state lawmakers to re-examine the benefits of the state new-home buyer tax credit enacted earlier this year in hopes of getting similar legislation passed to stimulate the housing sector and the economy.

Housing affordability continued to creep downward throughout the state during the third quarter of 2009 as a result of incremental price increases due to increased demand for homes.

New-home sales in California continued to remain below levels seen a year ago, but the year-over-year declines have continued to shrink.

New-home construction dipped again in September leading California homebuilders to strengthen the call for the Legislature to extend the successful homebuyer tax credit.

New home sales in California remained at historic low levels in August signaling that the state’s housing sector may be slow to recover from a stubborn recession.

Demand for new homes slipped again in August, a decline California homebuilders attributed to the discontinuation of the successful state homebuyer tax credit program.

California homebuilders pulled back on new-home production in July as buyers retreated from housing markets around the state following the discontinuation of a successful homebuyer tax credit early in the month.