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Orange County Housing Report
Active Inventory: In the past couple of weeks, the active inventory increased slightly.
In the past couple of weeks, the active inventory increased by 82 homes, a 1% rise, and now totals 5,911. It’s the first increase since mid-October. From January 1st to today, the active listing inventory has risen from 5,565 to 5,911 homes, an increase of 346 homes, or 6%. From here, expect the inventory to continue to rise until peaking sometime over the summer.
Demand: In the past couple of weeks, demand dropped quite a bit, as it always does to start a year.
Demand, the number of new pending sales over the prior month, decreased from 1,303 to 1,165, a drop of 138, or 11%. It is the lowest demand ready since the start to January 2008. Expect demand to increase from here and peak sometime in May. It will continue to be muted compared to recent years and the demand reading will be comparable to 2007 levels throughout 2019.