July 15, 2019
Due to fewer pending sales, the overall housing market is not as hot as it used to be.
Pending Activity: Housing has officially been sluggish in Orange County since April 2018 and it is not changing anytime soon.
The housing market has been moving along sluggishly since the spring of last year. In April 2018, demand (the last 30-days of pending sales) was off 11% compared to April 2017. By July 2018, it was off by 13%. As the year continued to unfold, muted demand became the new normal. After hearing how slow the market had become in 2018, many homeowners eagerly waited for 2019’s Spring Market. Yet, muted demand was not just a blip on the housing radar screen in 2018. Instead, sluggish demand had…