Winter is over and spring has begun, and with it the spring housing market. It is time to retool with current information and an analysis of how it may affect us before we enter the annual frenzy to buy or sell a home.
Over the last two weeks our active inventory has increased by 67 homes to a total of 10,828 homes for sale. Demand, has decreased by 225 pending sales to a total of 2,982 pending sales. Our expected market time decreased from 3.90 months of inventory two weeks ago, to 3.63 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 52 homes to a total of 3,797. The number of foreclosed homes for sale, within the active distressed inventory increased by 13 homes, and now stands at 699 for all price ranges, in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Photo Credit: Audrey
Minus the artificial stimulus of the housing market by the first time buyer credits of yesteryear, it appears that Orange County has begun a normal annual housing cycle. The distractions of the holiday and year end activities and New Year ramp up are behind us, and as we enter the beginning of the spring market, demand and inventory are increasing, while the expected market time is decreasing for most price ranges.
Over the last two weeks our active inventory has increased by 164 homes to a total of 10,389 homes for sale. Demand has increased by 564 pending sales to a total of 2,718 pending sales. Our expected market time decreased from 4.75 months of inventory two weeks ago to 3.82 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has decreased by 13 homes to a total of 4,104. The number of foreclosed homes for sale, within the active distressed inventory increased by 2 homes, and now stands at 726 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Photo Credit: Thomas Pix
Happy New Year! This is the slowest time of the year for the Orange County housing market. The slow cycle typically last into the first few weeks of the new year. It is a great time of year for buyers and sellers alike to position themselves for the spring selling season which typically begins around mid-February. We start this year with better-informed buyers and sellers, no government programs, and low interest rates – a mix that should provide us with a market that, while not stellar, is somewhat more predictable and stable.
Over the last two weeks our active inventory has decreased by 211 homes to a total of 9,987 homes for sale. Demand has decreased by 240 pending sales to a total of 1,960 pending sales. Our expected market time increased from 4.64 months of inventory two weeks ago, to 5.10 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 12 homes to a total of 4,123. The number of foreclosed homes for sale within the active distressed inventory increased by 21 homes, and now stands at 775 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Photo Credit: Keo 101
The Orange County housing market is entering the slowest time of the year, with anticipated decreases in the active inventory and in demand. The slow cycle typically last into the first few weeks of the new year. The real story over the last two weeks is the half a point rise in mortgage interest rates, an increase that will add about $120 to the mortgage payment on a $500,000 home, causing budget headaches for soon-to-be homeowners, and loan ratio headaches for buyers (and ultimately for the sellers, whose homes they hope to purchase).
Over the last two weeks our active inventory has decreased by 297 homes to a total of 10,539 homes for sale. Demand has decreased by 311 pending sales to a total of 2,382 pending sales. Our expected market time increased from 4.02 months of inventory two weeks ago to 4.42 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has decreased by 37 homes to a total of 4,064. The number of foreclosed homes for sale within the active distressed inventory increased by 12 homes, and now stands at 748 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Photo Credit: Wonderlane
The holiday season is here. As people refocus their attention to family and friends, the Orange County housing market typically maintains a slow-but-steady pace. Our market has changed little in the last two weeks.
Over the last two weeks our active inventory has decreased by 315 homes to a total of 10,836 homes for sale. Demand has increased by 21 pending sales to a total of 2,693. Our expected market time decreased from 4.18 months of inventory two weeks ago to 4.02 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 40 homes to a total of 4,101. The number of foreclosed homes for sale within the active distressed inventory increased by 17 homes, and now stands at 736 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Photo Credit: Elise Ramsey
As is typical of the Orange County housing market at this time of year, our inventory is decreasing and so is our demand. As we enter the last half of November, and our holidays in earnest, many buyers and sellers will step back and regroup in order to take full advantage of 2011′s selling season. Over the next two months, as the 2010 sales and associated data anomalies wane, many buyers and sellers will realign their expectations to be in harmony with today’s realities rather the skewed vision of market realities that much of 2010′s data appeared to support.
Over the last two weeks our active inventory has decreased by 274 homes to a total of 11,151 homes for sale. Demand has decreased by 2 pending sales to a total of 2,670. Our expected market time decreased from 4.28 months of inventory two weeks ago, to 4.18 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 3 homes to a total of 4,064. The number of foreclosed homes for sale within the active distressed inventory increased by 31 homes, and now stands at 719 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Photo Credit: David Lofink
It is officially the autumn market, and the listing inventory is finally on the decline. And, although demand typically declines at this time of year as well, it has instead increased in the last two weeks. Maybe buyers are beginning to take a more serious look at the low mortgage interest rates.
Over the last two weeks our active inventory has decreased by 88 homes to a total of 11,804 homes for sale. Demand has increased by 66 pending sales to a total of 2,756. Our expected market time decreased from 4.42 months of inventory two weeks ago to 4.28 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 13 homes to a total of 4,039. The number of foreclosed homes for sale within the active distressed inventory decreased by 10 homes, and now stands at 698 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
The following statistics are for detached single family homes as of September 17, 2010.
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The autumn market is underway, but with an interesting mix of circumstances. The anomalies created by the tax credit continue to influence our market. We have a growing inventory that contains an unhealthy number of overpriced homes and demand that is tracking below the demand we experienced a year ago at this time. We also have historically low interest rates that have significantly increased buyers’ purchasing power. It will be interesting to see if the low interest rates will garner enough attention among buyers to increase demand and halt the growth in inventory.
Over the last two weeks our active inventory has increased by 175 homes to a total of 11,892 homes for sale. Demand has decreased by 203 pending sales to a total of 2,690. Our expected market time increased from 4.05 months of inventory two weeks ago, to 4.42 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 110 homes to a total of 4,026. The number of foreclosed homes for sale within the active distressed inventory increased by 24 homes, and now stands at 708 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
Summer is unofficially over, and schools are back in session. The Orange County housing market is following a normal pattern for this time of year, and demand is currently mirroring 2008. The growth in our inventory continues to slow and mortgage interest rates continue to drop.
Over the last two weeks our active inventory has increased by 67 homes to a total of 11,717 homes for sale. Demand has decreased by 109 pending sales to a total of 2,893. Our expected market time increased slightly from 3.88 months of inventory two weeks ago to 4.05 months of inventory today. The inventory of distressed properties, as a segment of the overall inventory, has increased by 154 homes to a total of 3,911. The number of foreclosed homes for sale within the active distressed inventory increased by 25 homes, and now stands at 684 for all price ranges in all of Orange County.
For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report…
