Housing Report: Home prices fall for the first time in 3 years!

In the latest Orange County Housing Report, Real Estate expert Steven Thomas discusses the chatter about a "housing recession" and what it means for homeowners and prospective buyers. While Thomas says the housing market has seen a significant drop in sales, he believes recession talk doesn't necessarily mean that housing is in a crisis or that values will plummet.

No housing Crash coming, according to Real Estate Expert Steven Thomas; other Experts are not so sure.

Rising inflation, stock market losses, and a housing market that seems to keep going up have homeowners and investors questioning whether the bubble is about to burst.

Orange County Housing Market: Rising mortgage rates are slowing typical spring demand

Last year was the best for local real estate since 2005. But things are changing, and demand is taking a hit as mortgage rates continue to rise. Mortgage rates have risen more than 2.25% since December, making homes less affordable. Changes in affordability that come with rising rates will cool the insane pace that has characterized the market recently.

Orange County Housing Market: Three key factors driving a slow but sure shift in the market

The time since July 2020 has been marked by an insane market pace, with houses receiving offers soon after hitting the market and buyers falling into bidding wars against other eager potential homeowners. But things are changing. With higher rates, low inventory, and muted demand, new trends are emerging. The market is shifting back to the balanced, slower pace we are used to. It will take time, as changes in the housing market don’t happen overnight, but a shift is coming. These three factors are driving the change.

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