Orange County Housing Summary: May 14, 2024
David Deem Broker Associate 714-997-3486 Dave@DeemTeam.com The active listing inventory in the past couple of weeks increased by 150 homes, up 6%, and now sits at 2,470. In April, 32% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,272 less. 604 more sellers came on the market this April compared to 2023. Last ye ar, there were 2,139 homes on the market , 331 fewer homes, or 13% less . The 3-year average before COVID (2017 to 2019) was 6,255, or 153% extra, more than double. Demand, the number of pending sales over the prior month, increased by 52 pending sales in the past two weeks, up 3%, and now totals 1,759. Last year, there were 1,660 pending sales, 6% fewer . The 3-year average before COVID (2017 to 2019) was 2,765, or 57% more . With supply rising faster than demand, the Expected Market Time, the number of days to sell all Orange County listings at the current b