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Showing posts from June, 2022

Orange County Housing Summary: June 14, 2022

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David Deem 714-997-3486 Dave@DeemTeam.com • The active listing inventory continued to surge higher by 362 homes, up 13%, and now totals 3,059 homes, its highest level since December 2020. In May, there were 16% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 654 fewer. Last year, there were 2,214 homes on the market, 845 fewer homes, or 28% less. The 3-year average prior to COVID (2017 to 2019) was 6,501, or 113% more. • Demand, the number of pending sales over the prior month, decreased by 93 pending sales in the past two weeks, down 4%, and now totals 2,020. This is the lowest level at this time of year since 2007. Last year, there were 3,057 pending sales, 51% more than today. The 3-year average prior to COVID (2017 to 2019) was 2,766, or 37% more.  • With supply soaring higher and demand falling, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, surged from 38 to 45 day

Orange County Housing Summary:June 1, 2022

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  David Deem 714-997-3486 Dave@DeemTeam.com The active listing inventory continued to surge higher by 245 homes, up 10%, and now totals 2,697 homes, its highest level since December 2020. In April, there were 17% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 695 fewer. Last ye ar, there were 2,251 homes on the market , 446 fewer homes, or 17% less . The 3-year average prior to COVID (2017 to 2019) was 6,370, or 136% more.  D emand, the number of pending sales over the prior month, decreased by 66 pending sales in the past two weeks, down 3%, and now totals 2,113. Intentionally ignoring the COVID lockdowns of 2020, this is the lowest level at this time of year since 2007. Last year, there were 3,083 pending sales, 46% more than today . The 3-year average prior to COVID (2017 to 2019) was 2,738, or 30% more .   With supply surging higher and demand falling , the Expected Market Time, the number of days to sell all Orange County listing