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Even with muted demand due to the higher mortgage rate environment, the muted supply of available homes has allowed the Orange County housing market to continue to line up slightly in favor of sellers. A “Normal” Market-The insane pace of the housing market has come to an end and the instant marketplace has shifted to a much more normal, typical speed for this time of year. The market has undeniably evolved from warp speed, out of control, to a much more normal pace. However, nobody is used to normal. It is when buyers and sellers must negotiate a contract prior to opening escrow. Sellers do not call all the shots. There is no more waiving the appraisal or inspections. Sellers do not have the opportunity to rent their homes back from buyers after the closing for FREE. For the most part, homes are not selling over their asking prices. The froth of the past two years is gone. It is a Slight Seller’s Market.

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