Porter Ranch home sales declined since gas leak, study says

LOS ANGELES (KABC) -- Porter Ranch home sales decreased in the three months following the discovery of the massive Southern California Gas Co. leak, according to a study.

The study, which was released on Wednesday by RealtyTrac, found that Porter Ranch home sales decreased 44 percent since last October, which was when the leak was first reported.

MORE: Health issues linger after capping of Porter Ranch gas leak

Also according to the study, the share of all-cash sales increased 50 percent.

Despite the drop in sales, median prices are still holding steady.

The RealtyTrac study comes a day after energy officials stated in a report that the gas well blowout could lead to blackouts in the region for as many as 14 days this summer.

MORE: 4 Porter Ranch parks closed over concerns about gas-leak residue

The Aliso Canyon gas storage facility leaked out of control for almost four months and wasn't capped until February.

It sickened residents who lived nearby, displacing more than 6,000 families from their homes.
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