LOS ANGELES, Calif. – July 26, 2012 – New homes are selling at a clip in a gated community called “High Lights” in Granada Hills, despite the gloomy housing report released today by the U.S. Department of Commerce.
The sale of new single-family homes in June was 330,000 nationwide; 23.6 better than the record low set in May after the federal tax credit expired, but still 16.7 percent below the sales recorded in June 2009.
Even worse, new home sales in the West – which fared worse than any other region – dropped from 61 in May to 57 last month, which is 45.7 percent slower sales rate than June 2009. And the average new home stayed on the market 12.4 months before it sold.
Yet Trumark Homes recently sold 14 new homes over a four-week period in its newest community, High Lights, which consists of 82 homes that overlook the San Fernando Valley. On June 12, Phase II (18 homes) were marketed for sale and by July 12, Trumark only had four homes left.
The homebuyer interest experienced by Trumark has been a contrast to almost every barometer of home sales, which collapsed in May, promoting concern that the housing market would slump again once the federal tax credit expired.
(The National Association of Realtors also reports that the number of buyers nationwide who have signed contracts to purchase homes has dropped over the past couple of months.)
However, Trumark believes that the housing market in Southern California is so diverse that such national – or even regional – data misses the mark.
“Home sales in the Southland can vary drastically depending on location, product type and affordability,” said Trumark Homes CEO Michael Maples. “For example, High Lights is one of the first single-family new home communities to be built in the San Fernando Valley in years, so there is pent-up demand.”
“The community is only 30 minutes away from downtown LA, and with prices in the low $300,000s, it offers a reasonable commute at an affordable price.”
Located on the corner of Odyssey Drive and Blucher Avenue, the two- to three-story townhomes are being offered in six different floor plans: 13 townhomes at 1,112 sq. ft.; 34 townhomes at 1,230 sq. ft.; eight townhomes at 1,326 sq. ft.; 14 townhomes at 1,412 sq. ft.; six townhomes at 1,604 sq. ft. and six townhomes at 1,659 sq. ft. For more information, please visit www.liveathighlights.com.
About Trumark Homes
Launched in 2008, Trumark Homes builds high-quality homes at competitive prices throughout California and has positioned itself for the housing market rebound. The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark Companies is the residential development arm of the organization and operates in Northern and Southern California. Trumark Commercial, which builds, leases and sells commercial buildings, operates in the northern portion of the Golden State. Additional information is available at www.trumark-co.com