June 2022 RSS Feed

Orange County Housing Report:  Summer Slowdown

 The shift in housing due to higher rates has already made a significant impact on the housing market, and it will slow further over the summer.

Housing Will Continue to Cool

Since demand’s early peak at the end of May, the Expected Market Time has jumped from 20 to 45 days, growing by more than 3-weeks.

Road trip!! Living in California, it is of no surprise that so many families climb into their SUVs, packed to the gills with luggage, and explore the Golden State. After traveling 70-plus miles per hour for hours without a break, there comes a point where it is time to get off at the next exit, fuel up, and stretch the legs. Upon exiting the freeway and driving to the gas station at a…

Orange County Housing Report:  Affordability Challenges

When escalating home prices are matched with much higher mortgage rates, home affordability dramatically weakens and results in fewer buyers able to make a purchase.

Demand is Dropping Due to Affordability

Lower rates had propped up affordability, yet today’s higher interest rate environment is impacting demand as many home buyers struggle to afford the monthly payment.

In May of 2021, a gallon of gas cost $4.07. In January of this year, it had increased to $4.59, a rise of 52 cents in 8 months. It climbed to $5.66 a gallon in April, and then to $6.17 in May. That is a $1.58 jump in 4 months. Everyone is acutely aware of soaring prices at the pump. As consumers feel the strain in…

Orange County Housing Report:  Affordability Challenges

When escalating home prices are matched with much higher mortgage rates, home affordability dramatically weakens and results in fewer buyers able to make a purchase.

Demand is Dropping Due to Affordability

Lower rates had propped up affordability, yet today’s higher interest rate environment is impacting demand as many home buyers struggle to afford the monthly payment.

In May of 2021, a gallon of gas cost $4.07. In January of this year, it had increased to $4.59, a rise of 52 cents in 8 months. It climbed to $5.66 a gallon in April, and then to $6.17 in May. That is a $1.58 jump in 4 months. Everyone is acutely aware of soaring prices at the pump. As consumers feel the strain in…