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Southland sees a fall of 53 percent in New-Home Sales in December

Despite the decline in the values of homes in Southern California, it is hard for realtors to find buyers for new homes.

According to the statistices issued publicly by a real estate information firm, only 1,813 units of new homes were sold in the six-county region last month, which is 53 percent less than the sale figure of December 2007.

As the housing prices are falling down and foreclosed properties are made available at great discounts, buyers are queueing up to make the most of available opportunities.

With very few takers of new homes, builders have stopped new construction.

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