The Speed Factor
The Orange County housing market varies significantly from one price range to another, as well as between detached homes and attached condominiums and townhomes.
Market speeds vary by price and whether a home is detached or attached, but across the board, the market is significantly slower than it was in the last couple of years.
It is nearly time for the annual 4th of July 5K. For some, it's a race, but for others, it's a fun walk in the sunshine with friends by their side. The elite runners line up right in front of the starting line and run the course at an incomprehensible pace. Others jog pushing strollers or holding an American flag. Small kids speed past, weaving in and out of pedestrian traffic. Many briskly walk the entire route and enjoy a great conversation while exercising. There is a variety of running speeds in every 5K race.
Similarly, when the Orange County housing market is divided into various price ranges and separated between single-family detached homes and attached condominiums and townhomes, there is a variety of different speeds. Some ranges take weeks, while others take months or close to a year.
Excerpt taken from an article by Steven Thomas.
