Orange County Detached, New Home Inventory at a LOW Three Month Supply, Q4, 2007
ORANGE COUNTY, CALIFORNIA- As far as available new home inventory is concerned, the attached new home market represents nearly eight months of supply, while detached offered and unsold new homes represent just over three months of supply, according to MarketPointe Realty Advisors ResidentialTrends fourth quarter, 2007 publication.
Overall total inventory increased again this quarter to 6,156 homes; however, offered and unsold inventory fell by 10 percent to 1,386 homes, of which 364 are detached and 1,022 are attached. Compared to a year ago, overall total inventory is up by 4 percent, while offered and unsold inventory is up 35 percent. With slow absorption rates and high levels of inventory, the total months of supply calculates to nearly 29 months for attached product and nearly 21 months for detached product.
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 detailing specific information on the Orange County Housing Market 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
- Michael J. Colby
- MarketPointe Realty Advisors
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.