In OC, both Supply and Demand are decreasing; however, Supply is decreasing faster than Demand, leaving homes on the market for about 40 days. At the beginning of March, there were just 2,218 homes on the market. That number before Covid is usually around 5,100.

After an extremely slow end to 2022, Buyers are returning to the housing market. Demand is already up sharply, and market times are plunging fast. It is important to keep in mind, demand is pretty shallow for this time of year, 23% less than last year and 38% below the 3-year average before Covid (2017-2019).

In OC inventory is extremely low and because of mortgage rates demand is sluggish. We expect demand to pick up in the coming months and it will absorb new homes on the market until we get to spring. There will be more competition for sellers then.

This video shows month-over-month changes for several OC cities and communities.

Here are the latest housing happenings in OC. This video shows month-over-month changes for several OC cities and communities. Don't see your area or have questions about the market activity data? 📈 📉 ? Reach out and we'll share the info with you.

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Orange 🍊 County active listing inventory decreased 📉 by 96 homes, down 3%, and now sits at 3,581, its lowest level since June.

There are many consequences to sky-high rates📈. Orange County buyer demand has dropped to ultra-low levels. Let’s take a look at what specifically happening in these areas of OC…

Nationally, while buyer demand has moderated because of higher mortgage rates and kids back in school, it’s still a seller’s market.

Locally, in 🍊Orange County…

Even though list prices are cooling, sold prices remain relatively flat. Although inventory is increasing, there are still more buyers than homes available. Let’s take a look at what’s happening locally here in 🍊Orange County.

Nationally there’s a lot of talk about a shift in the housing market. Let’s take a look at what’s happening locally here in Orange County.

Here’s the market activity for the end of the second quarter…