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Orange County Housing Report Cracks Appearing


Even though housing is insanely hot, trends have emerged that confirm that the Orange County housing market is starting to cool.

CRACK – The current active inventory has increased by 60% since mid-January.

CRACK – Other than COVID-19 lockdowns of 2020, demand is at its lowest level for this time of the year since 2007 and is already trending lower.

CRACK – A staggering 15% of all available homes to purchase today reduced their asking price.

CRACK – Like Orange County, all counties in Southern California are experiencing stalled demand along with enormous drops in year-over-year readings.

As these trends continue, if higher rates persist with duration, the market will only cool further. The housing market will not change overnight; it will evolve over time. This year still promises to be an excellent year for sellers, only a bit more challenging, necessitating a more cautious, deliberate strategy and approach to the housing market.

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