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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 buying pace, increased from 56 to 61 days in the past couple of weeks, its highest level