REAL ESTATE
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Some people might have been surprised earlier this week to see a sharp drop in home sales reported in Orange County in April. But in fact home sales have been dropping all year, says TRW Real Estate Market Information.
Last year saw an unusually large number of sales, so this year’s slowing may be little more than the market catching its breath, say experts.
Nevertheless, Orange County registered the second largest drop of the 25 counties tracked by TRW for the first 3 months of the year.
The number of new and used houses and condominiums sold dropped 10.7%, TRW said, making Orange County next to last before San Mateo County, where sales fell 19.9%.
At the other end of the scale, Riverside led all counties with a 44.3% increase in sales, and San Bernardino was fourth with an 18.5% increase.
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