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Orange County Housing Summary: November 14, 2023

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David Deem Broker Associate 714-997-3486 Dave@DeemTeam.com ·        The active listing inventory in the past couple of weeks increased by 90 homes, up 4%, and now sits at 2,496. In October, 36% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,093 less. Last ye ar, there were 3,581 homes on the market , 1,085 more homes, or 43% higher . The 3-year average before COVID (2017 to 2019) was 5,822, or 133% more, more than double. ·        Demand, the number of pending sales over the prior month, decreased by 61 pending sales in the past two weeks, down 5%, and now totals 1,223. Last year, there were 1,202 pending sales, 2% fewer than today . The 3-year average before COVID (2017 to 2019) was 2,139, or 75% more . ·        With the inventory rising and demand falling, the Expected Market Time, the number of days to sell all Orange County listings at the current ...