Orange County Housing Report: A 2021 Forecast
HAPPY NEW YEAR!!! Now, what does that mean for the Orange County Real Estate?
First, let us look back at what happened in 2020 in terms of the inventory, demand, luxury properties and the Expected Market Time.
After starting the year with very few available homes to purchase, the inventory only grew slightly, plunging to unbelievably low levels during the second half of the year.
COVID-19 suppressed the inventory in Orange County. Many homeowners simply did not want to place their homes on the market amid a pandemic. From March through June, there were 4,655 fewer home placed on the market compared to the five-year average, 29% less. The Coronavirus lost its grip on…