Orange County House Sales in Year-End Drop

Orange County’s new-home sales activity dropped by 5.6% during the third quarter of 1985 after several months of steady increases, but the housing industry remained healthy, with a total of 2,793 sales reported in contrast with 2,203 sales logged a year ago, according to Residential Trends, a quarterly housing report published by Costa Mesa-based Market Profiles.

The countywide decline in sales activity, largely attributable to the seasonal year-end slowdown, affected the northern area more, with a 7.4% drop, compared to a 4.6% decline in south county areas.

Despite the expected year-end decline, the industry witnessed a surge in detached-housing sales, Fred Schlosser, marketing director for Residential Trends, said, with detached projects capturing 57.5% of reported sales in contrast with 45.6% during the second quarter and representing an absorption leap of 18.9%.