3rd-Quarter Home Sales Sag in Antelope Valley

New home sales in the Antelope Valley fell 11.4% from the second to the third quarter of 1998, according to the Meyers Group Real Estate Information LLC.

But the drop did not lead to a reduction in prices. The median housing price in the same period remained fairly stable, because of the tight supply of new housing.

According to the report, 132 new homes in the Antelope Valley were sold in the third quarter--calculated as mid-August through mid-November--which was a 40.27% decrease, compared with the third quarter of 1997.

Third-quarter new home sales were sluggish in neighboring markets as well, down 33.6% in the San Fernando Valley and down 33.2% in Los Angeles County, compared with third-quarter 1997.

However, year-to-date sales showed gains of 18.9% for the San Fernando Valley and 3.9% for the county overall, while new home sales dropped 27.9% in the Antelope Valley for the same period.