Ventura County New Home Sales Up 25% from Previous Three Month Incremental Period
Ventura County, California – March, 2008 A glimmer of hope was seen in Ventura County’s new home market over the past three months as sales volumes increased 25 percent from the previous three month incremental period to a total of 213 net sales, according MarketPointe Realty Advisors, Inc, ResidentialTrends publication. Adding to the positive news was a decline in the cancellation rate which dropped to just 38, down from 47 in the previous three months. While activity levels in the new attached housing sector remained virtually unchanged with 99 sales posted, the new-detached sector saw a 50 percent surge in activity netting 114 sales. With three projects selling out and eight new projects opening, the total number of active new home developments in Ventura County rose to 53, a net increase of five developments. The modest increase in sales activity seen over the past three months coupled with builders reductions in new home starts has resulted in a slight decline in the months of supply seen in the county’s new-detached housing sector which dropped from five to four months of supply.
Although both sales volumes and pricing parameters in Ventura County are off from the highs seen in 2005 and early 2006, “it’s nice to see a modest positive trend in the market place over the past three months” noted MarketPointe Realty Advisors, CEO, Russ Valone. “Maybe the combination of this slight upturn coupled with the new higher conforming loan rates made available under the President’s Stimulus Package will keep the Ventura County new home market on a positive gradual upward trend, maybe not, but it is nice to hope as opposed to doubt.
In addition to MarketPointe’s quarterly surveys of Ventura, new home statistics are published for Kern, Imperial, Greater Los Angeles, Santa Clarita-Antelope Valley, Orange, East Riverside, West Riverside, San Bernardino and San Diego Counties, and the Sacramento Valley.
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. For a complete housing report on a specific California region contact the nearest office, San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1398, website is www.marketpointe.com/res_trends.shtml.
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