More Choices
While the inventory may still be limited and not even close to returning to pre-pandemic levels, there are finally more homes coming on the market. There are 18% more sellers than last year.
Top 5 Orange County Housing Market Trends
It is best to step back from all the narratives, opinions, and noise whirling around the housing market and focus on the trends.
OC Housing Report | A Climbing Inventory
The Orange County inventory has been on the rise and is starting to pick up steam, unlike last year when it continuously dropped through mid-April.
OC Housing Report | The First Green Shoots
After bouncing along a record-low number of homeowners willing to sell in the high mortgage rate ienvironment for over a year, there were more new sellers in January compared to 2023, the first “Green Shoot” sins rate soared higher in 2022.
OC Housing Report | 2024 Forecast
When will housing heat up in 2024? It depends on when the economy cools. When that occurs, rates will drop, and the housing market will heat up. No matter what, there will be more homeowners opting to sell their homes, pending sales will increase and surpass 2023 levels, and there will be more closed sales. How hot the housing market gets in 2024 depends upon when the overall economy downshifts.
OC Housing Report | Is the Price Right?
For sellers who do not price their home carefully and must reduce their price down the road, they will likely net less upon closing.
OC Housing Report | Rates Rise, Values Slip
As rates surge higher and affordability diminishes even more, smaller changes in the market times shift the market in favor of the buyer.