Orange County New Home Market Posts Two Consecutive Positive Quarters
Orange County, California, June, 2008 - Could the Orange County new-home market be turning the corner? Optimists want to say yes, while the pessimist will want to say no. Optimists would point out the 47 percent increase in sales volume between the first and second quarters of 2008 with 754 total new-home sales posted this quarter compared to 514 sales last quarter. Pessimists would look at the comparison between the second quarter of 2008 and the second quarter of 2007 and note that the market was up an anemic 6 percent from a year ago when 711 new-home sales were posted, but the optimist in us would counter saying sales volumes were up year over year.
“Granted, sales volumes in Orange County are still way off from levels seen several years ago, but the trend continues to be upwards”, said Russ Valone, President, MarketPointe Realty Advisors, Inc. From its low point in the fourth quarter of 2007, total net sales increased 29 percent the first quarter to 514 net sales, according to the second quarter ResidentialTrends audit. That increase was followed by a 47 percent increase in the second quarter to a total of 754 sales in time when many market watchers were calling fro a drop off in sales volumes.
MarketPointe Realty Advisors provides new housing market statistics throughout California via its ResidentialTrends new-home database and its LandTracker proposed development database, as well as site specific, tailored housing market research and consulting services. Comprehensive “Housing Market Overviews” providing new home sales, pricing, housing inventory trends, future housing supply, and new and leading developments are available for regions across California. Contact San Diego at 619-233-3781, Orange County at 714-528-2554, or Sacramento at 916-710-1398 or at www.marketpointe.com
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- MarketPointe Realty Advisors
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