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.

Orange County Housing Market: Unprecedented Hot Seller’s Market continues as coming spring market brings increased demand

For months, each Orange County Housing Report has mentioned the insane pace of the current Hot Seller’s Market. This trend has not changed. As the spring market approaches on March 20th, demand continues to outpace inventory. We’re still in the middle of a massive inventory crisis.

Take advantage of Nuvision’s low 2.49% rate HELOC offer with these seven spring home renovation ideas

Spring is a season of new beginnings, which means it’s the perfect time to spruce up your home and fix the things that have been driving you crazy all winter. Whether you want to dive into major kitchen remodels or brighten up your yard new plants and landscaping, home improvements can add value to your home. Here are seven areas to consider improving this spring:

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