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Full Orange County Housing Report
Demand, the number of new pending sales over the prior month, increased from 1,622 to 2,035, an additional 413 pending sales, up an incredible 23% in just two weeks. In the past 4-weeks, demand has added 863 pending sales, a 74% rise. With mortgage rates dropping to 3.15%, an all-time record low, more buyers are entering the market, eager to take advantage of extremely favorable home affordability. Expect demand to continue to increase as more inventory comes on the market.
The active listing inventory increased by 177 homes in the past two-weeks, up 4%, and now sits at 5,044. COVID-19 is suppressing the number of homeowners coming on the market. Slowly, more homeowners are warming to the idea of selling now that the market is tilting further and further in favor of sellers.
*For specific housing market data for your city please contact us!