The Orange County housing market has been on fire in recent years, and the trend shows some signs of slowing down as we head into Q4 2022. But what can buyers and sellers expect in the coming months?
There were many signs of returning stability in Orange County’s housing market over the past quarter as we saw the effects of the pandemic nearing their end. Demand for homes is gradually coming in line with supply, and home prices are stabilizing as well.
The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have […]
Orange County’s housing market saw significant growth in the second quarter of 2022 but will it sustain over the year? An onset of new market trends, rising home prices, and mortgage rates have led many people to ask that question. The housing market in Orange County is slowly inching towards stability which was recently shaken by the Covid pandemic. To understand what this means for sellers and buyers, let’s take a deeper dive into Orange County’s housing market.
While this time of the year tends to be somewhat slower when it comes to real estate, Orange County has continued its uptick into the first quarter. Since it’s still a seller’s market, this continues to have a considerable impact on the number of homes available to potential buyers.
Will the housing market in Orange County continue to grow in 2022? If so, how much more growth can be sustained before another housing market bubble bursts? How far will interest rates rise over the year and how will we deal with a historic shortage of housing stock?
The numbers for the housing market in Orange County showed growth in the fourth quarter as they have throughout the year. Homes are also spending fewer days on the markets compared to the same quarter of 2020 even though there was a slight uptick over the third quarter of 2021. The number of single-family home sales dipped a bit as well but is still impressive overall.
The numbers for the housing market in Orange County are good once again for the third quarter. Here’s a deeper dive into the numbers and what they mean for both home buyers and sellers in Orange County.
In the short term at least, real estate market growth in Orange County seems to show no signs of slowing down any time soon, as seen through the three market indicators discussed below.
With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.