by Calculated Risk on 5/03/2009 09:02:00 AM

This video might surprise some people ...

Jim takes us on a tour of a new home site in Carmel Valley, San Diego (Video on May 2nd). Jim said these homes are "selling like hotcakes".

Just a reminder, new home sales are counted by the Census Bureau when the contract is signed (even before the homes are built).

Note: Carmel Valley is in a newer area of San Diego (east of Del Mar).