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.

Despite the high mortgage rate environment eroding home affordability, home values in Orange County have been on the rise after bottoming in December.

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.

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.

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.

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…