If you’re thinking of buying, the time is now. Supplies of Orange County homes have dropped to unheard of lows. At the peak of the Orange County housing market, there were close to 5,000 homes for sale. Now, there are approximately 4,000 homes for sale around Orange County. Adds Steven Thomas, who writes the Orange County Housing Report, “I didn’t think we were going to go below the lows achieved in March 2005. That was a very difficult market to navigate in, and we are tremendously lower than that.”
Supplies of Orange County homes have been on the decline since about June of last year, and it’s everywhere in Orange County. Fullerton home owners who are interested in selling know that there are eager buyers out there, so it makes sense to put their home on the market now. On the flip side, buyers who are looking to take advantage of historically low interest rates are having to snatch up anything they can get their hands on because, simply put, the options are few and far between in some cases.
Of course, it all depends on what you’re looking for and what you’re hoping to spend. For homes priced below $750,000, it’s a competitive market all around. Maria Elena Banks, President of the Orange County Association of Realtors, says, “This is the lowest I’ve seen, and I’ve been around since ’76. People are still smart, so even though there’s low supply, people aren’t going to be paying what the houses were back in 2005-2006, when people would pay anything for a house.”
If you’re interested in learning more about Fullerton homes for sale, please contact me. I’m a local real estate expert who has helped countless buyers find the Fullerton home of their dreams!