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Showing posts from January, 2022

Orange County Housing Summary: January 11, 2022

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  David Deem 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory added 28 homes, up by 3%, and now totals 1,100 homes, its lowest start to the year since tracking began 18 years ago. In December, there were 4% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 65 fewer. Last ye ar, there were 2,633 homes on the market, 1,533 additional homes, or 139% more . ·        Demand, the number of pending sales over the prior month, decreased by 296 pending sales in the past two weeks, down 19%, and now totals 1,295. Last year, there were 1,895 pending sales, 46% more than today due to a delay in the 2020 Spring Market because of COVID. ·        With demand plunging coupled with a slight rise in the supply , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, increased from 20 to 25 days in the past couple of weeks, its lowest level to start a year and an insanely Hot Selle