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Orange County Housing Summary: March 21, 2023

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David Deem 714-997-3486 Dave @DeemTeam.com     ·        The active listing inventory in the past couple of weeks decreased by 50 homes, down 2%, and now sits at 2,168, the second-lowest March level since tracking began in 2004 behind last year. In February, 45% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,413 less. Last ye ar, there were 1,556 homes on the market , 612 fewer homes, or 28% less . The 3-year average before COVID (2017 to 2019) was 5,286, or 144% more. ·        Demand, the number of pending sales over the prior month, increased by 62 pending sales in the past two weeks, up 4%, and now totals 1,567, its highest level since September. Last year, there were 2,284 pending sales, 46% more than today . The 3-year average before COVID (2017 to 2019) was 2,514, or 61% more . ·        With demand rising and supply falling , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pa
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Orange County Housing Summary: February 22, 2033

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David Deem 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks decreased by 110 homes, down 5%, and now sits at 2,305, the second-lowest mid-February level since tracking began. In January, 45% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,375 less. Last ye ar, there were 1,378 homes on the market , 947 fewer homes, or 41% less . The 3-year average before COVID (2017 to 2019) was 4,977, or 116% more. ·        Demand, the number of pending sales over the prior month, soared higher by 237 pending sales in the past two weeks, up 18%, and now totals 1,537. Last year, there were 1,998 pending sales, 30% more than today . The 3-year average before COVID (2017 to 2019) was 2,393, or 56% more . ·        With demand soaring and the supply falling , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, plunged from 56 to 45 days in the past couple
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Location: Orange, CA, USA
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Orange County Housing Summary: February 7, 2023

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David Deem 714-997-3486 Dave@DeemTeam.com ·        The active listing inventory in the past couple of weeks decreased by 121 homes, down 5%, and now sits at 2,415, the second lowest level to start February since tracking began. In January, 45% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 684 less. Last ye ar, there were 1,270 homes on the market, 1,145 fewer homes, or 47% less. The 3-year average before COVID (2017 to 2019) was 4,695, or 94% more. ·        Demand, the number of pending sales over the prior month, soared higher by 361 pending sales in the past two weeks, up 38%, and now totals 1,300, its largest two-week rise since February 2021. Last year, there were 1,683 pending sales, 29% more than today. The 3-year average before COVID (2017 to 2019) was 2,083, or 60% more. ·        With demand soaring and the supply falling , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, p
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Location: Orange, CA, USA
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Orange County Housing Summary: January 24, 2023

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  David Deem 714-997-3486 Dave@DeemTeam.com ·        The active listing inventory in the past couple of weeks increased by 6 homes, nearly unchanged, and now sits at 2,536, the second lowest level in mid-January since tracking began. In December, there were 32% fewer homes that came on the market compared to the 3-year average before COVID (2017 to 2019), 483 less. Last ye ar, there were 1,080 homes on the market, 1,456 fewer homes, or 57% less. The 3-year average before COVID (2017 to 2019) was 4,640, or 83% more. ·        Demand, the number of pending sales over the prior month, increased by 39 pending sales in the past two weeks, up 4%, and now totals 939. Last year, there were 1,426 pending sales, 52% more than today. The 3-year average before COVID (2017 to 2019) was 1,349, or 50% more. ·        With demand rising and the supply not changing , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, decreased from 84 to 81 days
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Location: Orange, CA, USA
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Orange County Housing Summary: January 10, 2023

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David Deem 714-997-3486 Dave@DeemTeam.com ·        The active listing inventory in the past couple of weeks decreased by 112 homes, down 4%, and now sits at 2,530, the second lowest level to start the year behind last year. In December, there were 32% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 483 less. Last ye ar, there were 1,100 homes on the market, 1,430 fewer homes, or 57% less. The 3-year average prior to COVID (2017 to 2019) was 4,506, or 78% more. ·        Demand, the number of pending sales over the prior month, plunged by 138 pending sales in the past two weeks, down 13%, and now totals 900, its lowest start to a year since tracking began in 2004. Last year, there were 1,1298 pending sales, 44% more than today. The 3-year average prior to COVID (2017 to 2019) was 1,349, or 50% more. ·        With demand dropping faster than supply , the Expected Market Time, the number of days to sell all Orange County listings at the cu
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Location: Orange, CA, USA
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The 2023 Forecast

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David Deem 714-997-3486 Dave@DeemTeam.com After 2 years of runaway home prices, the Federal Reserve stepped in to reverse engineer rampant inflation and has been utilizing the housing market as one of the main economic engines to achieve its objective. They increased the Federal Funds Rate from nearly 0% at the start of the year to 4.5% in December, its highest level since 2007 and its fastest rise in more than 40 years. Long-term mortgage rates responded rising from 3.25% at the start of the year to over 7.25% in October, more than doubling. They eased below 6.5% in December as inflation numbers began to improve for the second consecutive month. Yet, inflation remains elevated, up 7.1% year over year through November. It hit 9% in June. Core inflation, less the volatility of food and energy, is currently at 5.96%, after reaching 6.7% in September. The Federal Reserve’s core inflation goal is 2%, so they have a long way to go. The overall United States economy has remained resilient ba
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Location: Orange, CA, USA
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Orange County Housing Summary: December 13, 2022

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David Deem 714-997-3486 Dave@DeemTeam.com ·        The active listing inventory in the past couple of weeks decreased by 104 homes, down 3%, and now sits at 3,182, its lowest level since the start of June. In November, there were 32% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 718 less. Last ye ar, there were 1,363 homes on the market, 1,819 fewer homes, or 57% less. The 3-year average prior to COVID (2017 to 2019) was 4,988, or 57% more. ·        Demand, the number of pending sales over the prior month, plunged by 79 pending sales in the past two weeks, down 7%, and now totals 1,133, its lowest level since April 2020, the start of the pandemic. Last year, there were 1,944 pending sales, 72% more than today. The 3-year average prior to COVID (2017 to 2019) was 1,774, or 57% more. ·        With demand dropping faster than supply , the Expected Market Time, the number of days to sell all Orange County listings at the current buying p
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Location: Orange, CA, USA
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