Home Living Report – Orange County, CA Real Estate News by Diego Loya
The Fullerton Real Estate market in 2013 had some big gains. Homes increased to it’s highest levels since 2007. The same trend will continue into 2014. As long as the hunger from buyers to buy up homes stays strong, home sellers will reap the benefits of a strong market and growing real estate prices. It’s tempting to confuse market normalization with a possible slowdown. But those equipped with high-quality MLS data know better. As mortgage delinquencies fade, banks are listing bargain-priced product less often. That means investor activity – which accounts for a substantial market share – is moderating. That’s not to say that rates and prices aren’t still attractive to owner occupant buyers. They most certainly are. Some short-term volatility is expected as part of a normal market readjustment.
- New Listings were down 0.9 percent for single family homes and up 7.3 percent for condos and townhome properties.
- Pending Sales increased 1.1 percent for single family homes 4.3 percent for townhouse-condo properties.
- The Median Sales Price was up 22.5 percent to $539,000 for single family homes and 22.1 percent to $348,000 for condos and townhome properties.
- Months Supply of Inventory was flat for single-family homes and up 22.2 percent for townhouse-condo units.
The economy has more or less shuffled along, despite some climate-induced surprises to job growth and new construction. There is no denying the fact that we’ve now seen 47 straight months of private job growth, creating 8.5 million new payrolls. There’s still work to be done. Thankfully, with such low inventory levels, many builders are bullish on new construction. The spring market is budding, and it should be an interesting one.
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Current Orange County Homes For Sale
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