Top 5 Orange County Housing Market Trends
It is best to step back from all the narratives, opinions, and noise whirling around the housing market and focus on the trends.
OC Housing Report | A Climbing Inventory
The Orange County inventory has been on the rise and is starting to pick up steam, unlike last year when it continuously dropped through mid-April.
Expert Home Price Forecasts for 2024 Revised Up
Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall.
Home Equity Can Be a Game Changer When You Sell
Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier.
Why Pre-Approval Is Even More Important This Year
On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024.
OC Housing Report | The First Green Shoots
After bouncing along a record-low number of homeowners willing to sell in the high mortgage rate ienvironment for over a year, there were more new sellers in January compared to 2023, the first “Green Shoot” sins rate soared higher in 2022.
Why Having Your Own Agent Matters When Buying a New Construction Home
Finding the right home is one of the biggest challenges for potential buyers today. Right now, the supply of homes for sale is still low. But there is a bright spot. Newly built homes…
Are More Homeowners Selling as Mortgage Rates Come Down?
If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.
OC Housing Report | 2024 Forecast
When will housing heat up in 2024? It depends on when the economy cools. When that occurs, rates will drop, and the housing market will heat up. No matter what, there will be more homeowners opting to sell their homes, pending sales will increase and surpass 2023 levels, and there will be more closed sales. How hot the housing market gets in 2024 depends upon when the overall economy downshifts.
OC Housing Report | Is the Price Right?
For sellers who do not price their home carefully and must reduce their price down the road, they will likely net less upon closing.
OC Housing Report | Rates Rise, Values Slip
As rates surge higher and affordability diminishes even more, smaller changes in the market times shift the market in favor of the buyer.
OC Housing Report | Modest Deceleration
As rates have edged higher and higher this year, the housing market has been slowing down from it insane pace, and now homes are taking a little longer to sell.
OC Housing Report | Values Rising
Despite the high mortgage rate environment eroding home affordability, home values in Orange County have been on the rise after bottoming in December.
OC Housing Report | Sum-Sum-Summertime
Housing’s Summer Market has arrived, and with it comes an increase in inventory, a slight decrease in demand, and a rise in the market time.
OC Housing Report | Hype vs. Data
From YouTube to TikTok to the Backyard Barbecue, there are plenty of narratives regarding pending doom for housing that the underlying data does not support.
OC Housing Report | Housing Insanity Returns
With the number of available homes to purchase at extremely low levels, there simply are too many buyers competing against each other despite high mortgage rates.
A Seller’s Market …when the Expected Market Time drops below 40 days, the housing market leans heavily in favor of sellers.
OC Housing Report | A Buying Opportunity
Before the collapse of Silicon Valley Bank, Signature Bank, and Silver Bank in March, mortgage rates were just above 7%. Since then, rates have fallen…
OC Housing Report | Multiple Offers Again?
Low Supply and Multiple Bids
Market Times have dropped like a rock since the start of the year, squeezed by not enough sellers.
Top 5 Reasons Homes Don’t Sell
When it comes to listing their home, most home Sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple.
OC Housing Report | Supply Dilemma
Lack of FOR-SALE Signs in the past few years, there has been a severe inventory crisis initially instigated by the pandemic and now due to the high mortgage rate environment. Since the pandemic, there have not been enough homes available, and 2023 is no different.