As for new construction in that area, I can't give you a direct answer. I can only tell you that it is hard to sell new homes that compete well with dramatic price reductions in the resale market. While the prices of homes have gone down since their all time highs, the cost of most raw materials to build houses have gone up. So, unless the builder offers smaller homes or homes with less features, it is hard for them to make their target profit. So, I wouldn't expect new houses to be built there anytime soon until the inventory shrinks and prices trend upwards and stabilize.