Publicly Held Companies Lead The Pack In Detached New Home Sales In The Santa Clarita & Antelope Valley Region
Santa Clarita, California, June, 2008 – In the second quarter of 2008 in the Santa Clarita/Antelope Valley region, six out of seven projects leading the pack in detached sales were built by publicly traded companies. Pulte Homes (NYSE: PHA) Madeleine Court II lead the pack, followed by K Hovnanian’s (NYSE: HOV) Cooperstown, D.R. Horton’s (NYSE: DHI) Winchester at 40th, KB Homes (NYSE: KBH) Tierra del Sol – Lancaster, Calico Terrace II-Palmdale, and Belmont @ Discovery Trails. Also in the top seven was privately held NewWest Homes NewWest @ Tierra Subida, according to ResidentialTrends quarterly publication.
Total net sales volume, which was up last quarter, decreased by just nine net sales to 419, a 2 percent drop. The entire decline came in the attached sector which dropped close to 58 percent to just 14 net sales this quarter. The detached sector, which makes up close to 97 percent of the region’s market, posted a modest gain over last quarter’s volume to 405 net sales, a 3 percent bump.
Detached inventory is predominately located in the Antelope Valley communities of Lancaster (50 percent) and Palmdale (27 percent). The Santa Clarita Valley holds the entire attached inventory with 81 percent located in Valencia and 19 percent in the city of Santa Clarita. At current sales rates, unsold inventory would last less than eight months in the attached sector and more than three months in the detached.
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/landing.com
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