Orange County Attached New Home Sales Outperform Detached New Home Sales, Q3, 2007

ORANGE COUNTY, CALIFORNIA- Attached new home sales outperformed the detached new home sector for the first time in the last three quarters, increasing by 22 percent from last quarter to 416 net sales, according to MarketPointe Realty Advisors ResidentialTrends quarterly publication. Detached net sales fell for the second consecutive quarter, decreasing by 15 percent. However, when compared to the third quarter of 2006, which was the lowest level on record, detached net sales are 59 percent higher.
The infusion of new projects into the market helped to boost overall new home sales slightly, as total net sales for Orange County in the third quarter increased by 3 percent. The attached sector had a net addition of five actively selling projects, as eight projects began sales this quarter and three sold-out last quarter. Ten new detached projects entered the market this quarter while two sold-out last quarter, increasing the number of actively selling projects to 78.
The Aneheim/Tustin submarket led the way in total new home sales, capturing 38% of the market, followed closely behind by the Newport Beach/Irvine areas, capturing 35% of the market, although the Newport Beach/Irvine areas led the way in the new home attached sector, selling 180 units in the third quarter, compared with 130 in the Aneheim/Tustin areas.
In addition to MarketPointe’s quarterly surveys of Orange County, new home sales reports are published for Kern, Imperial, Greater Los Angeles, Ventura, Santa Clarita-Antelope Valleys, East Riverside, West Riverside, San Bernardino, San Diego and Sacramento Counties.
MarketPointe Realty Advisors ResidentialTrends is a quarterly publication, and is considered the most comprehensive and detailed audit of new residential activity throughout Southern California, from an unbiased, yet knowledgeable source.
MarketPointe Realty Advisors provides new home and proposed development information, and real estate consulting services. The offices are located in San Diego and Orange County, with representation throughout California. For a complete Housing Market Overview on a specific development region contact the nearest office, San Diego at 619-233-3781, Orange County at 714-528-2554, website is www.marketpointe.com/res_trends.shtml.

Contact Information

Russell Valone, II

President

MarketPointe Realty Advisors

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