(Save the date: RealShare Apartments comes to theWestin Bonaventure, Los Angeles, October24.)
BEVERLY HILLS, CA-With encouraging news from the home-buyingfront, a specific segment of home sales is seeing a strongresurgence: new homes. Andrew Adler, CEO ofAlta Verde Group, a locally based innovative homebuilder, tells GlobeSt.com that home buyers—and Baby-Boomers, inparticular—would rather spend their real estate dollars onnew construction than on existing inventory.
Statistics from Data Quick corroborate Adler’stheory. According to the San Diego-based provider of advanced realestate information solutions, new home sales in the CoachellaValley rose 35% in July as compared to the previous year, with amedian home price of $254,000—roughly $43,000 more than the averageprice of a resale home.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
