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Most of Orange County Housing Remains a Hot Sellers' Market


Most of Orange County Housing Remains a Hot Sellers’ Market
Commentary
In Orange County, Calif., it’s a matter of weeks before a $1.25 million house is plucked from the market, creating lucrative opportunities for area sellers.
According to the just-published Orange County Housing Report, 58 percent of Orange County home sellers are offering homes at $1.25 million or less. Demand is so high and supply so low in that segment that the publisher of the report, Steven Thomas, called that sector a “hot seller’s market.”
Homeowners listing properties for $1.25 million or less can expect to find a buyer in just 15 to 16 days on average, according to the report. ....

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Tight Orange County Housing Supply Could Lead to Higher Prices


Tight Orange County Housing Supply Could Lead to Higher Prices
Commentary
According to the widely-read Orange County Housing Report, the median home price in Orange County is “anticipated to continue to increase at a pace of about 1 percent per month through the end of the year.”
Supporting the authors’ analysis, the Orange Country Housing Report points to the amount of inventory available for purchase in the week before Easter, when inventory was just 2,240 homes. Indeed, the report comments, inventory “is the lowest level since tracking began in 2004.”
“The five-year average [from 2015 to 2019 and intentionally excluding 2020 as the numbers were skewed due to the pandemic] is 5,552, or 148 percent more” than the current supply of home available for purchase. ....

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