In 2023, home sales by leading builders in Orange County dropped remarkably by 23%, with single-family homes experiencing a 31% decline and attached homes seeing a 15% loss. The downturn is largely attributed to a severe shortage of available land for new developments. While companies like Lennar maintained the highest sales volume despite a decrease, others such as Tri Pointe Homes and Taylor Morrison faced significant drops. Some builders like California Pacific Homes reported notable growth, but the overall trend highlights a critical lack of building lots available in the region, raising concerns for future development.
The state of home sales in Orange County has seen significant declines, with major builders experiencing a drop in sales due to land shortages and fewer building opportunities.
Sales figures indicate a dramatic 23% year-on-year decline among the top builders, emphasizing the continuing challenges in the housing market and the urgent need for available lots.
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