New Home Sales Drop in Southland
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The sale of new homes in Los Angeles County remains lackluster, according to statistics released by TRW REDI Property Data. In the first five months of 1994, builders sold 1,890 new single-family houses and condo in L.A. County, compared to 2,284 in the same period last year.
More than a third of sales were in the cities of Palmdale and Lancaster, where the affordability factor has played a large role in demand for new homes.
New Home Sales in Southland
City Jan-May Jan-May % 1993 1994 Chng Palmdale 390 365 -6% Lancaster 360 244 -32% Los Angeles 202 133 -34% Canyon Country 112 47 -58% West Covina 75 34 -55% Glendale 62 70 13% Santa Monica 55 21 -62% Long Beach 52 40 -23% Newhall 50 25 -50% Van Nuys 44 25 -43% Castaic 43 25 -42% La Mirada 42 40 -5% Valencia 36 73 103% Lakewood 28 29 4% Northridge 27 11 -59% La Puente 26 28 8% Paramount 25 27 8% El Monte 23 14 -39% West Hollywood 23 15 -35% Pasadena 20 18 -10% North Hills 20 15 -25% Azusa 20 18 -10% Other Cities 549 967 -- Los Angeles County 2,284 1,890 -17%
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