The new home market was at boost for two years. The number of houses sold per month climbed from 159 per month to 349 per month. Then, suddenly, the sales dropped. The homes for sale in Mission Viejo had to face a great slump. The new home sales declined for 10 months, with 21% decline in volume. It was quite surprising because there is rarely any case ever heard of decline in sales of new homes. According to the counties, only the new houses in San Diego and Orange were under the influence of real estate decline.

The question here was that why these two states were suffering from a slump of real estate. According to experts, the builders were the victims of their success. But, this could not be the only reason. Might be, the prices were too high. Not every buyer could afford a million dollar home. But, charging around a million dollar for such an amazing view of mountains and full of nature, and a luxurious house at the safest community is not a bad deal. Spending money on a friendly location is what any family would want, which is why in earlier days Mission Viejo was one of the famous communities and was at the top of the list of most favorable communities for families for kids and young couples.Ladera Ranch Real Estate

Building stillness

The builder ran out of homes for sale in Mission Viejo. This is because the process of getting the permission and approval to build something at a land is quite time-consuming. This is the reason that when houses are built, they are sold quickly, but the next house takes the time to build due to all the formalities and legalities involved in the process.

Record value

The prices touching the sky is another reason of people refraining from buying homes in Mission Viejo. The price of a newly built home in Orange is around $900,000, which is quite a big sum of money. this is why people shifted their interest of purchase from San Diego and Mission Viejo to other states. But, the high prices are not only the fault of builders, but the land prices provoke them to put houses for sale at higher prices.

Possible turnaround

There are chances of a turnaround in the current situation in the near future. The statistics show that there can be a possible turnaround in the situation, which is why the builders must not lose their hope.