”Proving to be a bit of a prognosticator, I predicted that last
quarter’s net sales volume results were going to prove difficult to
surpass” confessed Robert Martinez, Director of Research, MarketPointe™
Realty Advisors. Last quarter’s overall net sales total, along with net
sales in the detached sector set record lows in the Ventura County new
home market, revealed in MarketPointe’s Residential Trends Publication.
Responding to this futility, this quarter posted volume increases in
both sectors. This quarter’s total of 113 overall net sales represents
a 151 percent surge over last quarter, but still is the second worst
output level on record. In the attached sector, net sales volume
increased better than seven-fold from last quarter but remains less
than half of the net total of the second quarter of 2008. In the
detached sector, net sales increased 25 percent to 45 net sales, also
the second worst quarterly output on record.

Overall weighted
average price dropped 5 percent this quarter, as overall weighted
average home size increased more than 5 percent, resulting in a 10
percent drop in the overall value ratio per square foot. Weighted
average price in the attached sector fell
nearly 13 percent this
quarter, as the average attached home size gained 6 percent per square
foot resulting in a 17 percent decrease in the attached value ratio per
square foot. Weighted average price in the detached sector gained 7
percent, as average home size gained 10 percent per square foot.
Together, these price and size changes resulted in a 3 percent value
ratio decrease per square foot.

Overall inventory increased 2
percent this quarter to 1,443 total units. In the attached sector,
total inventory increased 7 percent to 1,017 units. The bulk of this
inventory sits in unreleased future phases of existing developments
with 204 unsold units available. Total detached inventory fell 10
percent to 426 homes. More than 81 percent remain in unreleased future
phases of existing developments with homes that have been offered to
the marketplace yet remain unsold accounting for just 79 homes. In
terms of length of time to exhaust this unsold inventory, there are ten
months of available attached inventory and less than five months of
detached.

MarketPointe™ Realty Advisors provides new housing
market statistics throughout California via its ResidentialTrends™
new-home database and its LandTracker™ proposed development database,
as well as site specific, tailored housing market research and
consulting services. Comprehensive “Housing Market Overviews”
providing
new home sales, pricing, housing inventory trends, future housing
supply, and new and leading developments are available for regions
across California by going to www.marketpointe.com/landing. Phone San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1396; url:www.marketpointe.com.