With an astonishingly limited supply of available homes to purchase matched up with blistering hot demand due to record low mortgage rates, the overall housing market in Orange County is insanely hot!
Hot November Housing – With an Expected Market Time of only 23 days, the Orange County housing market is hotter than it has ever been for this time of the year.
Everyone put on their favorite pair of shorts, grabbed their flip flops, applied sunscreen, and enjoyed the usual summer activities of sunny Southern California. From the beach, to the pool, to mountain hikes, there is plenty to do when the temperature eclipses 90 degrees. Yet, it is not the middle of summer. It is a heatwave in the middle of November, just a couple of weeks until Thanksgiving. Occasionally, Mother Nature cooks up summer weather at this time of year.
Today’s Insane Seller’s Market is not going anywhere. Rather, it is setting up an extremely hot market to start 2022. It will be an Insane Seller’s Market from January 1st on. Last year there were 2,522 homes available on January 1. Upon celebrating the coming New Year, there will be less than 1,500 homes, 41% fewer than the start to this year. Match a record low supply with overabundant demand juiced by low mortgage rates, and housing will remain hot through the spring of 2022.
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