Market Remains Slow

Orange County home sales from January through July were off 9.4% from the same period last year. The 1993 total is almost a 50% decline from the seven-month total for 1988.

Houses Sold (January-July, 1993)

Pct. Southern Pct. Orange Change California Change 1988 30,628 -- 174,310 -- 1989 27,157 -11.3 189,003 +8.4 1990 22,570 -16.9 154,660 -18.2 1991 21,267 -5.8 123,792 -20.0 1992 18,129 -14.8 109,351 -11.7 1993 16,432 -9.4 98,611 -9.8

Average Sales Price (January-July, 1993)

Pct. Southern Pct. Orange Change California Change 1988 $218,818 -- $195,880 -- 1989 255,612 +16.8 215,416 +10.0 1990 258,457 +1.1 218,101 +1.2 1991 253,808 -1.8 222,514 +2.0 1992 250,086 -1.5 217,895 -2.1 1993 242,549 -3.0 210,878 -3.2

Low-End Action

Not only have sales and average prices been dropping, but two-thirds of sales in each of the last two years have been in the less-than-$250,000 range.

Price range Jan.-July, 1992 Jan.-July, 1993 Up to $175,000 28.2 32.0 175,001--250,000 37.0 36.8 250,001--325,000 17.8 15.9 325,001--400,000 8.2 7.2 400,001 and up 8.8 8.1

Source: TRW Redi Property Data; Researched by JANICE L. JONES / Los Angeles Times