Orange County Housing Summary: July 22, 2024
David Deem Broker Associate 714-997-3486 Dave@DeemTeam.com The active listing inventory in the past couple of weeks jumped by 319 homes, up 10%, and now sits at 3,371, its highest level since November 2022. It was the largest two-week climb so far this year. In June, 34% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,323 less. Yet, 254 more sellers came on the market this June compared to June 2023. Last ye ar, there were 2,389 homes on the market , 982 fewer homes, or 29% less . The 3-year average before COVID (2017 to 2019) was 6,776, or 101% extra, a little more than double. Demand, the number of pending sales over the prior month, decreased by 93 pending sales in the past two weeks, down 6%, and now totals 1,531, its lowest level since February. Last year, there were 1,598 pending sales, 4% more . The 3-year average before COVID (2017 to 2019) was 2,578, or 68% more . With supply climbing fast and demand falling, the Expected Market Tim...