“1771 North Point is a down to the studs total overhaul (remodel doesn’t do it justice) and the showcase home for the Pacific Coast Builders Conference.” (The “Marina Green Showcase” Hits The Market)
“Numbers are down this year at PCBC The Premier Building Show, a major homebuilders conference at Moscone Center that opened Wednesday, a reflection of declining new-home construction after previously hot sales.” (Premier Building Show reflects decline in sales)
“For nearly a year, the economy has been enduring a stretch of subpar economic growth due mostly to a sharp housing slump.” (Economy Has Worst Growth Since 2002)
From the Examiner Home Builder article: “San Francisco saw…a 72 percent decline in condos sold when comparing the first quarters of 2006 and 2007. There was also a slight decline in the price of condos sold.” Ummmm – wow, that’s major league. Hanley Wood (formerly the Meyers Group) is pretty much the industry leader when it comes to their reports of monthly sales volume for new residential developments, so this isn’t some armchair quarterback’s wild guess. They do a weekly survey of sales activity for every new major residential development (and charge quite a bit for their research reports) and their research is used by larger developers pretty often for their development decisions. I’m surprised you don’t hear from them more in the local press, but then again, the new development market has only become a significant portion of the pie in SF in the last few years. It would be interesting to find out their total new home sale numbers for SF over the last few years – anyone want to shell out a couple hundred bucks for their reports?