OC Housing Report: Rates Rise, Values Slip

Orange County Housing Report: Rates Rise, Values Slip

As rates surge higher and affordability diminishes even more, smaller changes in market times shift the market in the buyer’s favor.

Higher Rates Squeeze the Market

An Expected Market Time of 60 days is considered a Balanced Market today, yet that level used to be a Hot Seller’s Market prior to the run-up in mortgage rates that began in January 2022. 

Active Listings

The active inventory increased by 3% in the past couple of weeks.

Demand

Demand dropped by 6% in the past couple of weeks. 

Luxury End

The luxury market cooled in the past couple of weeks.

 

See below for a Snap Shot of the current OC Housing Report: Rates Rise, Values Slip

(Due to Posting Restrictions, To View the Full Report Email Us at [email protected]   or Call 949.770.9888 for a FREE Copy of the Report)

 

If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!

Don’t forget – you can click https://bit.ly/freeinstanthomeevaluation to find a quick estimate of your home’s current value. Call us at 949.770.9888 if you would like to discuss the current housing market, receive a detailed home value analysis or answers to any real estate questions you may have! We are here to help!

 

 

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