Orange County Home Sales Up 30% In January

Orange County Home Sales Up 30%

Orange County Home Sales

January Orange County Home Sales Highest January Numbers In 7 Years

Orange County Home Sales numbers rose to the highest levels for a January in 7 years. Sellers closed over 2400 transactions for the month compared with only 1900 the year before.

Read about the new DataQuick numbers in this report from Jeff Collins in the Orange County Register:

January home sales up 30% to 7-year high

"Orange County home sales hit their highest level for a January in seven years last month, rising 29.9 percent over the previous January …" OC Register
http://www.ocregister.com/articles/year-495663-home-january.html

Orange County Home Sales Typical For Southern California

Sales were also up all across the region. Some are beginning to question if we might be experiencing a "mini-bubble" in the market. However, most see continued steady growth in the future as the market digs out of a deep, dark hole.
 

Orange County Home Sales.

Orange County Home Sales – New Home Sales Up 74% In 2012

Orange County Home Sales:
New Home Sales Up In 2012

Orange County Home Sales | New Home Sales Up 74%

The Irvine Co. states it has sold more than 1,200 new homes this year – in Irvine alone. Some of the homes cost as much as $1 million in the Village of Laguna Altura. The company started building there in 2010.
H. LORREN AU JR., ORANGE COUNTY REGISTER

Orange County Home Sales Figures Show New Home Sales Surged In 2012

Orange County home sales numbers were much improved in 2012, and new home sales were among the positive numbers posted. In fact, new home sales in Orange County were up by 74% over 2011. The numbers even indicate that buyers would have purchased more new homes … if they were available. It seems that builders aren't building them fast enough to meet the demand!

Here's an interesting article from Jeff Collins in the Orange County Register:

New home sales surged in 2012

"New homes are selling again in Orange County. The problem is, developers aren't building them fast enough to meet demand." … Orange county Register
http://www.ocregister.com/articles/homes-409440-new-home.html

Orange County Home Sales Expected To Show Continued Growth

Record low interest rates, a recovering economy, and renewed buyer and investor confidence has spurred the entire Orange County home sales market. New home sales are showing good strength and the numbers should motivate some shy builders to wade deeper into the waters as the new year goes on.
 

Orange County Home Sales.

Orange County Home Sales – Number Of Distressed Listings Down

Orange County Home Sales:
Number Of Distressed Listings Down

Orange County Home Sales - Distressed Property Listings

Orange County Home Sales – Distressed Property Listings

Orange County Home Sales Show Distressed Listings Down 93% From Peak

In a bit of mixed news for Orange County Home Sales, the numbers show a drastic reduction in the availability of "distressed listings" over the last 13 months. Distressed listings are those in foreclosure or "short sales". Such listings in the Orange County area are down 87% from a year ago, and 93% from their peak 13 months ago.

Here's a report from Jonathan Lansner and Jeff Collins in the Orange County register

Distressed home listings down 93% from peak Lansner on Real Estate …

"Distressed homes made up 12 percent of the market on Dec. 20, Thomas reported. By comparison, they made up 38 percent a year ago and 45 percent at the end of 2008 and start of 2009." … Orange County Register
http://lansner.ocregister.com/2012/12/28/distressed-home-listings-down-93-from-peak/168537/

 

Orange County Home Sales Numbers Show Mixed Market for Buyers vs Sellers

While it's a healthy sign that these Orange County home sales numbers show a decline in "distressed listings", the news is mixed for Buyers and Sellers. When these numbers were at their peak, distressed listings were often sold at a selling price steeply off the listing price. Buyers were able to find many "deals". Now that the inventory for these types of homes is much smaller, the Orange County home sales market is tougher for the Buyer and the Seller has much more control. The "deals" are fewer and more difficult to find.

Orange County Home Sales. 
 

Orange County Home Sales – The So Called "Fiscal Cliff" Should Be No Hurdle To The Market

Orange County Home Sales:
The So Called "Fiscal Cliff" Should Be No Hurdle To The Market

Orange County Home Sales | Fiscal Cliff No Threat To Home Sales

DeptofNumbers.com says the overall Orange County median listing price in November … was $449,675 — that is up 12.4 percent vs. a year ago. Can the market sustain this rate of growth?

What Could Cool The Market For Orange County Home Sales? Maybe The Market Itself …

The so called "Fiscal Cliff" certainly has some features we all want to avoid. The universal tax increases and the draconian cuts involved aren't things anyone wants to see. However, unless they eliminate the home mortgage deduction (which is unlikely … look for an income cap instead), the "cliff" is likely to be simply a bit of minor turbulence in the bay.

At any rate, that's the view of Jonathan Lansner in this article from the Orange County Register …

Fiscal cliff no hurdle for housing

"Certainly, the cliff's looming tax hikes and federal spending cuts might slow the overall economy. That might take a dash off the growing demand for housing. But I don't think it'll be enough of a dent to chill the expanding interest in Orange County homebuying." … Jonathan Lansner
http://www.ocregister.com/articles/price-379405-housing-market.html

DeptofNumbers.com Has Interesting Numbers That Show Orange County Home Sales Might Cool As Part Of Normal Market Action

According to Lansner's article … and DeptofNumbers.com … the Orange County Home Sales numbers show that many Sellers are in a waiting mode … pricing at the "what I want" level, and believing prices will continue to rise at these rates, and will end up giving them what they want.

However, that presupposes that there are Orange County home sales buyers out there prepared, comfortable, and qualified to be buying at these price levels. That might not be the case. The numbers of such buyers might just be being outstripped by the rate at which prices have risen. This means a "normal market adjustment" would consist of … guess what … prices adjusting lower, or at least slowing the rate at which they're rising, leaving those sellers sitting on the market with no one willing or qualified to pay their price.

Orange County Home Sales.

 


 

Orange County Home Sales: Big Gains All Across O.C.

Orange County Home Sales:
Big Gains In All OC Regions

Orange County Home Sales | Costa Real Estate Digest

Orange County Home Sales Are showing Good Numbers Along With The Rest of The State … And The Nation As A Whole.

Orange County Home Sales Up Over 18% Compared To Last Year At This Time

Orange County home sales are up in all areas of the OC as reported by Dataquick. Beach cities, South and North Inland, and Mid-County all show increased sales activity as well as rising prices.

In any real estate market, seeing the combination of increased activity and rising prices, is definitely a good sign. It indicates a market where Buyers are confident in paying more. That shows an increasing confidence in the market itself, and in the economy in general. Orange County home sales are showing this kind of confidence growing in those interested in buying in the area.

Read about it in this report from Jonathan Lansner in the Orange County Register: 

Big home-sale gains found all across O.C.

"That's a key highlight of our study of how recent housing trends hit various corners of Orange County. For the 22 business days ending August 8 — freshest numbers from DataQuick — our region-by-region analysis of local real estate sales patterns saw …"
http://www.ocregister.com/articles/home-369818-gains-county.html

Median Selling Price Of Orange County Home Sales Up As Well

As activity rises, so is the median selling price in the Orange County home sales market. Most analysts attribute this to the fact that there are far fewer properties available today than a year ago. There are far fewer low end REO properties out there … investors have bought them up, spruced them up, and put them on the rental market. We are actually seeing less investor activity and more purchases for primary residence use. These are more "upper-end" type propertiesw, and so the median Orange County home sales price rises.

Orange County Home Sales.