Stock of Unsold New Homes Rises

In another sign that the once-sizzling new-home market has cooled, the number of available new tract homes in the six-county Southland area rose 89% from the middle of 1989 to the end of the year, according to a new survey.

The semi-annual report by the Real Estate Research Council of Southern California shows that there were 2,348 completed new homes that were sitting empty at the end of the year, up 85% from six months earlier. Another 10,089 homes were under construction, up 90% from the midyear level.

Riverside County accounted for 29% of the unsold homes--both completed and under construction--while Los Angeles had 20%. Orange County accounted for 17%; San Diego County, 16%; San Bernardino, 11% and Ventura County, 7%.