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FIRST QUARTER NEW HOME SALES RELEASED FOR ORANGE COUNTY

 FIRST QUARTER NEW HOME SALES RELEASED FOR ORANGE COUNTY
 NEWPORT BEACH, Calif., March 26 /PRNewswire/ -- First quarter new


home sales in Orange County have improved over last quarter but the market remains volatile according to The Competitive Housing Market Report just released by The Meyers Group, an independent market research and consulting firm.
 A total of 1,639 new homes sold in Orange County this quarter (January - March) for a 51 percent increase over last quarter. However, sales are down 17 percent from the first quarter of 1991.
 "We forecasted sales to rise significantly this quarter which is typical when comparing fourth quarter to first quarter. Two key factors in the decrease from one year ago is that there was a post war boom happening and currently the credit crunch is keeping many new projects from coming on line," commented Jeff Meyers, president of The Meyers Group.
 TOP SELLING PROJECTS IN ORANGE COUNTY
 (Ranked by Sales)
 Project/Location Builder Sales Price Range
 1. Shadow Canyon Irvine Pacific 42 $89,990-$169,990
 Tustin
 (Attached)
 2. La Tierra Fieldstone Co. 40 $216,990-$245,990
 Rancho Santa Margarita
 (Detached)
 3. Rancho Vera Cruz Irvine Pacific 38 $87,900-$153,900
 Tustin
 (Attached)
 4. Mandevilla Irvine Pacific 36 $89,900-$146,500
 Tustin
 (Attached)
 5. Canyon Hills Irvine Pacific 33 $89,900-$148,000
 Orange
 (Attached)
 6. Vintage Place Vintage 30 $231,000-$256,000
 Anaheim Hills Communities
 (Detached)
 7. Bel Air Bramalea Homes 30 $199,900-$295,000
 Mission Viejo
 (Detached)
 8. Brisa Ladera Akins 27 $175,900-$200,900
 Rancho Santa Development Co.
 Margarita
 (Detached)
 9. Ventana LDM Development 25 $175,990-$231,990
 Tustin Inc.
 (Attached)
 10. Cabo Vista Fieldstone Co. 25 $137,990-$166,990
 Rancho Santa Margarita
 (Attached)
 Median base prices decreased in both the attached and detached markets this quarter. The base price of an attached home dropped 9 percent to $168,900, while the median base price of a detached home dropped 4 percent to $309,900.
 Inventory levels increased 5 percent from last quarter to 2,828 units and almost 7 percent from first quarter 1991.
 "While this is not good news, this is still a far cry from our all- time high inventory level of 3,637 units in the third quarter of 1990. This increase can partially be attributed to condo-conversions in the attached market and a lot of new phase releases in existing projects in the detached market," Meyers said.
 The Meyers Group is an independent market research and consulting firm serving the real estate industry in the western United States. The Competitive Housing Market Report is a quarterly publication.
 -0- 3/26/92
 /CONTACT: Jeff Meyers or Trish Cannady of The Meyers Group, 714-644-2055/ CO: The Meyers Group ST: California IN: FIN CST SU:


KJ-CH -- LA015 -- 1967 03/26/92 12:27 EST
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Date:Mar 26, 1992
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