Orange County Housing Report: Supply Dilemma
In the past few years, there has been a severe inventory crisis initially instigated by the pandemic and now due to the high mortgage rate environment.
Lack of FOR-SALE Signs
Since the pandemic, there have not been enough homes available, and 2023 is no different.
The pandemic lockdowns began three years ago, in March 2020. Life came to an abrupt halt. Instantly, grocery shelves were ransacked as everyone prepared for an indefinite time in their homes. Many aisles were empty, most notably the toilet paper aisle. There was a run on toilet paper, and it lasted throughout 2020. In desperation, people resorted to shopping for rolls on eBay or Amazon and were willing to pay whatever price. It was simple…