September 2022 RSS Feed

Orange County Housing Report:  Hunkering Down

Significantly higher mortgage rates are preventing a massive number of homeowners from selling their homes, and the trend has only grown more problematic recently.

Staying Home

In August there were 30% fewer FOR-SALE signs than the average prior to COVID, more than 1,000 missing sellers.

On March 19, 2020, the Governor of California issued a “stay at home” order. Offices, small businesses, shop owners, and schools all closed their doors and headed home. Only essential workers, such as health care, emergency services, and food services, were able to leave their houses and head to work. Once congested freeways were empty. Outings were limited to a once per week trip to the local grocery store.…

Orange County Housing Report:  A SLIGHT Seller’s Market

Even with muted demand due to the higher mortgage rate environment, the muted supply of available homes has allowed the Orange County housing market to continue to line up slightly in favor of sellers.

A “Normal” Market

The insane pace of the housing market has come to an end and the instant marketplace has shifted to a much more normal, typical speed for this time of year.

Everyone seemingly has an opinion when it comes to the housing market. Forget economic models, data, charts, and statistics. Most believe that since values have soared to ridiculous heights and now mortgage rates have skyrocketed to their highest level since 2008, prices must correct. Yet, this kind of logic…