Home Living Report – Orange County Real Estate News by Diego Loya
If you own a home in Orange County, CA you are in HOT demand. The trend of 2013 continues. Houses, condos and townhomes in Orange County have continued to appreciate month over month. Substantial profits have been made this year from homeowners that have sold their properties. If you are considering selling, this is a great opportunity to do so. Your time is limited. Strong demand for a limited supply of homes for sale has seemingly outweighed higher mortgage rates, at least for the time being. The idea that mortgage rates may rise further is likely spurring some of this demand. The dream of homeownership is very much intact, but buyers should be prepared with competitive offers, since every measure of market health is pointing upwards.
- New Listings were up 5.1 percent for detached homes and increased 35.1 percent for attached properties.
- Pending Sales increased 2.5 percent for single family homes and increased 17.5 percent for townhouse-condo properties.
- The Median Sales Price was up 25.9 percent to $535,000 for detached homes and 32.8 percent to $335,000 for attached properties.
- Months Supply of Inventory decreased 41.7 percent for single-family units and 32.3 percent for townhouse-condo units.
Eyes continue to fixate on the Federal Reserve and its policy inclinations related to stimulus tapering. Labor market growth is positive but still tepid. Things like gas prices, stock market shifts and global economics have a tendency to sway consumer sentiment. At the moment, U.S. housing continues to be a bright spot.
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Orange County Homes For Sale
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