Showing posts from March, 2023

Orange County Housing Summary: March 21, 2023

David Deem 714-997-3486 Dave     ·        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