Supply of Unsold New Houses at High Level

"The current supply of new unsold housing units in the six-county Southern California region totaled 26,423 at midyear, the highest level since mid-1982, according to David R. Smith, president of the Real Estate Research Council of Southern California. The data covers both single-family detached and attached units, completed and under construction in Los Angeles, Orange, Ventura, Riverside, San Bernardino and San Diego counties."

"All of the increase occurred in Los Angeles County, where the unsold inventory increased 22.6% over year-end 1984. Overall, the region recorded a 3.1% increase over the 25,623 unsold units at year-end 1984. Increases were recorded in the inventory of both attached and detached houses, with the supply of attached dwellings increasing by slightly more units."

"The total unsold inventory--completed and under construction--increased 3.3% from 10,942 at year-end 1984 to 11,171 at midyear 1985. The 11,171 total is nearly 25% above the 8,927 unsold single-family houses reported for midyear 1984. Attached units completed and under construction totaled 15,252, up almost 3,000 from the 12,260 units recorded for the midyear 1984 period."

Southern California's six-county region experienced a significant rise in unsold housing inventory, totaling 26,423 units at midyear 1985, marking the highest level since mid-1982. This represented a 3.1% increase from year-end 1984's 25,623 units. Los Angeles County accounted for all growth, with a 22.6% increase in unsold inventory. Both single-family detached and attached units contributed to the increase, with attached dwellings showing slightly larger unit gains. Single-family units under construction rose 1.4% to 5,943 units. Attached units completed and under construction totaled 15,252, up nearly 3,000 from midyear 1984. Los Angeles County led with 9,057 unsold units, followed by San Diego County with 5,178 units.

Read at Los Angeles Times