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Table V-6. Orange County Summary of New Home <br /> Unsold Inventory as of June 30, 19741 <br /> <br />Under $30,000 "0 819 <br />$30,000 - $4~,000 89 1,408 <br />$40,000' Over 1~363 1~962 <br /> TOTAL 1,452 '4,189 <br /> <br /> 819 <br />1,497 <br />3~325 <br />5,641 <br /> <br />example, between 1960 and 1974, the median selling price of new <br />single-family tract homes rose dramatically. From a figure of <br />$17,900 in 1960 to $33,800 in 1970 to $55,500 in 1974, the <br />median selling price rose 210 percent from 1960 to 1974. This <br />rise considerably surpassed the average price increase regis- <br />tered by the Consumer Price Index for the Los Angeles-Orange <br />County area. In fact, housing costs have been outdistancing <br />all other expenses combined. <br /> <br /> Not only did the median price rapidly increase during <br />thi~ period, there was also an upward shift in the entire pric- <br />ing distribution of new single-iamily tract housing. In 1960, <br />6,304 homes in the under-$20,000 price range were offered for <br />sale, representing 65.8 percent of all new tract housing in <br />the County. By 1965, only 126 were offered and none in 1970 <br />and thereafter. Worse yet, as previously stated, virtually <br />no single-family detached homes completed or under construction <br />during 1974 had a selling price of less than $30,000. <br /> <br /> This substantial price hike in the median- <br />and in the entire price range has had its effects. <br />According to the general standard of limiting <br />the monthly housing payment of one-fourth of <br />monthly income, many families are being priced <br /> <br />000069 <br /> <br /> <br />