Quote:
Originally Posted by SamInTheLoop
Jaroslaw - just a correction on unsold inventory. The 7,601 figure is almost assuredly for completed, under construction, as well as pre-construction units that are being marketed. The pre-construction unsold units are a huge percentage of the total unsold almost by definition (as under-construction needs to be at least 50% pre-sold - and as many of the under construction projects are 70-90% pre-sold, the overall average must be closer to 60-70%....)
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It's always been hard to distinguish between the two except by very close reading. I think you're right, though. From the AR website:
"Though downtown developers were sitting on just 64 unsold completed units at the end of the quarter, the supply of unsold condos includes 3,539 units that are under construction and will be completed between now and 2010, according to Appraisal Research...."
There are other variables in this number, but I don't want to get deleted.
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