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Some Positive Signs in O.C. Home Sales

February 27, 1996

Is real estate recovering yet? CT Realty Corp., a real estate investment company based in Newport Beach had $60 million in deals last year, double the number it expected, including the purchase of Centerstone Plaza in Irvine for $23 million. Lincoln Residential Services, an Irvine manager of multifamily units, has added more than 9,000 new units during 1995, boosting its portfolio to 40,000 units. And 45% more new Orange County homes were sold last month than last January, according to E&Y Kenneth Leventhal Real Estate Group. In January 1996, a total of 668 new homes were sold here compared to 461 new homes sold in January 1995.

Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com.

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