As potentially the brightest sun in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings.
- New Listings were down 2.3 percent for detached homes but increased 24.1 percent for attached properties.
- Pending Sales increased 9.7 percent for single family homes and 19.7 percent for townhouse-condo properties.
- The Median Sales Price was up 25.0 percent to $525,000 for detached homes and 29.3 percent to $336,500 for attached properties.
- Months Supply of Inventory decreased 56.1 percent for single-family units and 55.6 percent for townhouse-condo units.
The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 percent again but are not likely to reach 3.3 percent again.
Other Valuable Videos:
Diego Tell Me More, I’m looking to Buy or Sell Real Estate
[gravityform id=”2″ name=”Send us Your Questions and Comments”]
Orange County Homes For Sale
(Contact me if you are searching for a specific property or property type – 714.989.6040)
[idx-listings county=”Orange” minprice=”400000″ maxprice=”33000000″ minbeds=”4″ maxbeds=”9″ statuses=”1″ propertytypes=”513″ orderby=”DateAdded” orderdir=”ASC” count=”15″ showlargerphotos=”true”]