Robyn Robinson | Compass Real Estate

Orange County Housing Report Cracks Appearing

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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