After almost two years, the market is starting to CRACK. We are seeing a rise in inventory, a drop in demand, and an increase in market time. Why?? – higher rates.
Keep this in perspective though. Remember that we are coming off an extreme Supply & Demand market. The dial is moving in the right direction but drastic changes will not happen overnight.
The current active inventory has increased by 60% since mid-January.
Other than the COVID-19 lockdowns of 2020, demand is at its lowest level for this time of year since 2009 and is already trending lower.
Knowledge is power. Apply the strategy for the win.
If you’re looking for more information about the real estate performance in many of Southern California’s most in-demand markets, click here to view the Pacific Sotheby’s International Realty IN FOCUS market reports.
Whether you are a first-time home buyer, an interested seller or building your investment portfolio, our reports are your best resource to make smart real estate decisions today.
Want to stay updated on the Orange County Housing Market?
- Check out the latest Orange County Housing Report
- Check out all of our Market Reports
- Subscribe to our Housing Report emails to stay updated on the real estate market in Orange County
The information provided on this blog does not, and is not intended to, constitute legal or tax advice. All information, content, and materials available on this blog are for general informational purposes only. Information on this blog may not constitute the most up-to-date legal or other information. Readers of this blog should contact their attorney and/or tax advisors to obtain advice with respect to any particular legal or tax matter. No reader, user, or browser of this blog should act or refrain from acting on the basis of information on this site without first seeking legal advice from counsel in the relevant jurisdiction. Only your individual attorney and/or tax advisor can provide assurances that the information contained herein and your interpretation of it is applicable or appropriate to your particular situation.