Home Sales in San Diego Tilt To Detached Units
Aided by lower interest rates and easily obtained financing, new-home sales in the South San Diego County market are shifting toward the detached sector for the first time since the fourth quarter of 1983, according to “Residential Trends,” a quarterly housing report from Market Profiles, San Diego.
During the three months ending in January, 484 detached houses were sold, up 3.1% from the 469 reported in the previous three-month period and a whopping 27% above the 382 sold in the three-month period ending in January, 1985.
By contrast, 462 attached units sold in the three-month period ending in January, 27.3% below the 636 attached sales reported for the previous three months. However, Market Profiles reported that attached sales were up 6.2% from the 435 reported through the three-month period ending January, 1985.
Market Profiles also reported a continued decline in unsold inventory in the South County. As a result of the continued high levels of sales activity, the 87 developments (55 attached and 32 detached) recorded a record low inventory of 1,387 units for the three months ending last January, 12% below the previous quarter’s total of 1,570 and 39% below the 2,281 unsold units reported for the three months ending January, 1985.