Orange County Housing Report:  Extra!  Extra!  Inventory Rising!

 Now that the Spring Market has finally arrived, a new trend has emerged, a rising active listing inventory.

A Rising Inventory

After continuously dropping since last October, the active listing inventory rose by 6%. 

Other than the luxury end, every price range experienced a rise in the number of homes available. The largest increases occurred in the hottest price ranges. Home priced between $500,000 to $750,000 increased by 41 additional homes, up 13%. From $750,000 to $1 million, there were 86 additional homes, up 25%. Below $500,000 and between $1 million and $1.25 million, the price ranges increased by 4%. That may not be a lot of extra homes, but for buyers, it is…

 Orange County Housing Report: A Market Shift

As mortgage rates continue to rise, eventually the housing market will evolve from its current crazy pace to one that is much more tolerable.

The Coming Change

The sharp rise in mortgage rates from 2.65% during the first week of January to 3.09% today is just the beginning of rising rates.

Housing is in the midst of its own playoff run and has been a Hot Seller’s Market since June of last year, 9-months straight. It is the longest since the 16-month streak that ran from March 2012 through July 2013. What happened in the summer of 2013 to end the run? The market decelerated because of higher mortgage rates.

The Orange County active inventory in 2013 had reached its lowest level since…