Orange County Housing Report

Active Inventory: 

In the past two-weeks, the active listing inventory dropped by 181 homes, down 2%, and now totals 7,307, the largest drop of the year. The significant drop illustrates the direction that the active listing inventory will be heading for the remainder of the year: There are fewer homeowners opting to list their homes during this time of the year and many unsuccessful sellers are opting to take their homes off the market.

Last year at this time, there were 7,001 homes on the market, 306 fewer, or 4% less. Two years ago, there were 20% fewer homes on the market compared to today. 

Demand: 

Demand, the number of new pending sales over the prior month, decreased by 58 pending sales in the past two-weeks, down 2%, and now totals 2,548. With the kids back in school, demand slowly and methodically drops for the rest of the year. It is just not the most advantageous time for families to move. Most families prefer to move when it is easiest on the kids, during the summer months, from June through mid-August while their kids are enjoying their summer break. 

Last year at this time, there were 198 fewer pending sales than today. Current demand is still muted, just not as severe as this time last year when interest rates were climbing. Two years ago, it was 11% stronger than today. 

MTR1.png

MTR2.png
Redderson Real Estate Professionals
Redderson Real Estate Professionals
Broker Associate
1467 N. Wanda Rd. Suite #135 Orange CA 92867