Orange County real estate statics and housing market data

Posted by Greg Steinaker on Monday, November 3rd, 2014 at 10:01am.

 

 

Orange County real estate statistics that matter: The Orange County housing market is one of the most sophisticated in the United States, and the buyers and sellers in this market are hyper-sensitive to even the slightest fluctuations in interest rates, and increasing home prices when making the important decision to list their home for sale or possibly jump into the market as a first time home buyer. Here are some staggering housing market data that was just recently released.

  • Mortgage rates continue to sustain historically low levels dropping to a 40-year low.

  • Home inventory rises again, making this 6-weeks in a row.

  • Home sales were down over 5%.

  • Market values are up approximately 20% from 12-months ago.

This housing market data which has been trickling in recently shouldn’t be a surprise to any professional (or homeowner for that matter). You simply need to look around your local neighborhood, open up a newspaper or simply do a quick internet search and you will see that the values in your local Orange County neighborhood are most likely much higher than they were 12-months ago, and probably higher than they were 3 or even 4 months ago.

Barriers of entry into the FNMA, FMAC and FHA controlled lending environment continue to be FICO scores, low debt to income ratios and full income verifications. The highly regulatory mortgage industry is no help to home values yet they continue to inflate. The new home inventory leads one to believe that many of the Orange County home owners might be jumping into the market simply to recognize an equity gain with the necessity of making a move or relocation out of Orange County.

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