Sale of Homes Bounces Back in Riverside

New-home sales rebounded in east Riverside County during the last quarter of 1985, as the number of attached units sold jumped from 84 in the previous quarter to 401 during the October to December period.

According to “Residential Trends,” a quarterly housing report published by Costa Mesa-based Market Profiles, the attached-sales activity accounted for 81.8% of all sales in the eastern region desert area, while detached-home sales increased by only 17 units to 89.

Fred Schlosser, marketing director for “Residential Trends,” noted that the attached and detached sales, totaling 490, more than tripled the previous quarter’s level, with the average number of sales per project increasing from two units to six.

Demand for attached homes was greatest between $150,000 and $200,000, while detached sales were most heavily concentrated in the $65,000 to $80,000 price range.

In spite of the recent surge in sales activity, the desert housing market remained largely oversupplied, with 2,873 unsold homes, including 2,567 in the attached sector and 306 detached units.