Once builder get building permit they have time line to build homes per their agreement with city development agency...
Big development takes years to plan, get financing,and build. Builders have to forecast the market, it all takes lots of times. They ride with the market, and try to be competitive with resale market. The only thing they can do in a slow market is to build less and slower so that they can release less each phase and not to offer too much supply,therefore hopefully maintain the price level and its profit margin.
