April 19, 2022
Even though housing is insanely hot, trends have emerged that confirm that the Orange County housing market is starting to cool.
Trends are developing which demonstrate that the pandemic induced, insane housing run is cooling.
CRACK – The current active inventory has increased by 60% since mid-January. From January 20th through today, the number of available homes to purchase has risen from 1,080 to 1,732, up an astonishing 60%, or 652 additional homes. The inventory has struggled to grow since 2020, the start of the pandemic. It is the largest gain since 2019. Today’s level is still extremely anemic and far below normal levels, yet is a trend that demonstrates that not all homes are selling instantly. It will not be long before there are more homes on the market this year compared to 2021. Last year everything that was placed on the market was slammed into escrow. That is not the case today even with a muted number of homes coming on the market.