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Orange County Housing Report
In the past couple of weeks, the active inventory surpassed last year’s peak and will continue to climb. That’s the highest level since September 2014. It will continue to climb until peaking sometime this summer, most likely mid-August.
Demand, the number of new pending sales over the prior month, increased by 2 pending sales in the past two weeks, nearly unchanged, and now totals 2,655. After an initial slow start to the year, demand surged from February through April. In May, it slightly came off of those highs and most likely peaked early for 2019. Demand will not change much from here. It will remain relatively the same through mid-June. From there, expect demand to slowly and systematically fall for the remainder of the year, starting with numerous summer distractions.