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).