Full Orange County Housing Report

ACTIVE LISTINGS:

THE CURRENT ACTIVE INVENTORY WAS UNCHANGED IN THE PAST TWO WEEKS. THE ACTIVE LISTING INVENTORY SHED 6 HOMES IN THE PAST TWO-WEEKS, NEARLY UNCHANGED, AND NOW SITS AT 2,627, ITS LOWEST JANUARY LEVEL SINCE TRACKING BEGAN IN 2004. MANY HOMEOWNERS WAIT UNTIL THE SPRING TO PLACE THEIR HOMES ON THE MARKET. SPRING DOES NOT START UNTIL THE END OF MARCH. YET, DEMAND IS ALREADY FIRING ON ALL CYLINDERS. AS A RESULT, HOMES ARE BEING PLACED INTO ESCROW AS FAST AS THEY ARE COMING ON.

DEMAND:

 DEMAND CLIMBED BY 8% IN THE PAST TWO WEEKS. DEMAND, A SNAPSHOT OF THE NUMBER OF NEW PENDING SALES OVER THE PRIOR MONTH, CLIMBED FROM 1,895 TO 2,055 IN THE PAST COUPLE OF WEEKS, ADDING 160 PENDING SALES, UP 8%. DUE TO RECORD LOW MORTGAGE RATES, DEMAND IS CURRENTLY LIMITED BY THE NUMBER OF HOMES COMING ON THE MARKET. IF THERE WERE MORE HOMES AVAILABLE, DEMAND WOULD RISE FROM WHERE IT IS AT TODAY. NOT START UNTIL THE END OF MARCH. YET, DEMAND IS ALREADY FIRING ON ALL CYLINDERS. AS A RESULT, HOMES ARE BEING PLACED INTO ESCROW AS FAST AS THEY ARE COMING ON.

*For specific housing market data for your city please contact us!
Redderson Real Estate Professionals
Redderson Real Estate Professionals
Broker Associate
1397 Calle Avanzado San Clemente CA 92673