OC Housing Report

A Holiday Plunge

Housing is about to shift to the Holiday Market when both the supply of available homes and purchase demand falls to their lowest levels of the year on New Year’s Day.   With all the distractions of the holidays, supply and demand will plunge through the end of the year. 

Immediately after all the little ones enjoy going door-to-door trick-or-treating, all the Halloween decorations come down in the snap of a finger. It is the first sign that a holiday downshift is upon us. Daylight savings ends in early November; clocks roll back an hour, and suddenly, it is dark at 5 PM. This is yet another sign. Starbucks cups, holiday romantic movies on Netflix, and neighbors’ early installation of Christmas lights are all further indications that the festivities and distractions of the season are about to hit the housing market.

With Thanksgiving next week, the diversion of family gatherings, holiday parties, plenty of shopping, eggnog, and nonstop festive music has arrived. Orange County transitions to the Holiday Market starting this week in the blink of an eye. The inventory plunges, demand plunges, and the Expected Market Time will not change much this year. This is the season where many sellers and buyers will place their real estate goals and needs on pause to enjoy the merriment.

 

 

 

 

 

 

 

 

 

Excerpt taken from an article by Steven Thomas.

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 45 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 25 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, as well as sponsoring Paper Shredding and E-Waste Recycling events twice a year, a Meet Santa Event & a Movie Night.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.