A Winter Thaw
After an extremely cool start to the year, the Orange County housing market is heating up with spiking demand and a substantial drop in market time.
With demand rising fast, the housing market is heating up, and the market time is plunging.
Going to an amusement park as soon as it opens is a considerable advantage. There are no crowds and the most popular rides have no line for those willing to scramble to the queue as quickly as possible. Yet, in the blink of an eye, the park is filled with people, and the wait times for everyone’s favorite rides grow longer by the minute. By late morning, the swarm of people is dizzying, and it’s the busiest time of the day.
That’s how the Winter Market feels for housing. It is still the Holiday Market in early January, which runs from mid-November through the first couple of weeks of the New Year. That is when there is very little buyer activity, demand, and the supply of homes available establishes a bottom for the year. The slow pace of the first couple weeks of January quickly fades as housing transitions to the Winter Market.
Excerpt taken from an article by Steven Thomas.
