Of the 42 major Western metro area housing markets, 29 markets are below their 2022 home price peak.
-9.6% —> Boise (still +47.7% since March 2020)
-7.6% —> Provo (+43.1% since March 2020)
-7.1% —> San Francisco (+23.8% since March 2020)
Chart via ResiClubhttps://t.co/FPx07UagWpj
I assume that you are referring to the combination of new and resale home sales. The relative weight of resale versus new would not be an accurate measure of new home price conditions because of the typical disparity in total home sales velocity between new versus resale.
Dive into the latest insights on the Orange County housing market this February in this comprehensive forecast. Whether you're buying, selling, or just keeping an eye on the market, this video is packed with essential information to guide your decisions in the dynamic Orange County real estate landscape.
🔍 Key Point #1: As we step into February, anticipate a noticeable increase in housing inventory. More properties are coming to market, offering a broader selection for potential buyers. This is a crucial development for those who have been on the sidelines, waiting for the right opportunity to make their move.
📈 Key Point #2: Alongside the growth in inventory, we're also expecting a surge in buyer demand. The combination of more listings and more active buyers sets the stage for a bustling market this month. If you're considering purchasing a home, be prepared for increased competition.
💥 Key Point #3: Despite the uptick in inventory, it's important to note that the market remains tight, especially for homes priced under $1.5 million. This segment is particularly competitive, with many properties likely to encounter bidding wars. Buyers should be ready for a fast-paced market and potentially multiple offer situations.
This video is your go-to resource for understanding the current trends and projections in the Orange County housing market. Whether you're planning to buy your dream home, sell a property, or simply want to stay informed, this February forecast has the insights you need.
Stay ahead of the market curve by subscribing to my channel, and don't forget to hit the like button if you find this forecast helpful. Your engagement helps me reach and assist more individuals navigating the complexities of the Orange County real estate market.
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🏡 Orange County Housing Update: Low demand levels do not mean that the market is not exceptionally hot. Today’s Expected Market Time (the number of days to sell all Orange County listings at the current buying pace) is 40 days. At 40 days, buyers compete, bidding wars are the norm, and home values are rising. This occurs with a scarcity of supply, which is precisely what the housing market is experiencing today.
If you have questions about the current real estate market, please feel free to reach out!
#WalkerRealEstateGroup#ChrisWalkerRealtor#OCRealtor#ColdwellBankerRealty#OCHousingMarket#OCHousingUpdate
It's that time of year again, the much anticipated 2024 Orange County Housing Market forecast is HERE! I'll break down the latest trends and forecasts, and highlighting what buyers, sellers, and investors need to know. We will look at the impact of changing interest rates, inventory levels, buyer demand, and how that all impacts home appreciation in Orange County for 2024. I'll also be going over my advice for both buyers and seller who are thinking of entering the housing market in 2024 and when they might find the best opportunities for success. #orangecounty#realestate #2024 #joshalexander#joshalexanderrealestate
Every 8 years, California projects its population growth and determines the number of homes needed in each county and city to meet the demand. 🏘️ In Silicon Valley and the Bay Area, we're falling behind – big time. 😳
The numbers are in, and we're significantly short of our housing goals in every city. With such a massive shortfall, the demand will keep skyrocketing, and home prices will remain sky-high with no relief in sight. 📈
It's a tough reality check for our red-hot real estate market. But knowledge is power, and understanding the supply-demand dynamics is crucial for buyers, sellers, and investors alike. 💰
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☀️🌴 Looking to Buy, Sell or Invest in California? ☀️🌴
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🏠 Contra Costa County Housing Market Update 📊
Analyzing the current real estate landscape in Contra Costa County, we observe a nuanced market shift. Over the past quarter, housing prices have stayed resilient, fueled by heightened buyer interest and fairly limited inventory. Average days on market sits at 19 days, a 35% month over month improvement, reflecting the growing demand in this vibrant region.
However, it’s essential to note the intricate balance between supply and demand. Despite the robust demand, the inventory remains relatively tight, posing challenges for potential buyers. This scarcity is contributing to a competitive market, with multiple offers becoming more commonplace.
Interest rates have played a pivotal role in shaping the market dynamics. The recent adjustment in rates and talk of additional adjustments has spurred more buyer activity, further intensifying the competition for available homes. As a result, sellers are often experiencing quicker sales and favorable closing terms.
While these trends showcase a positive trajectory, it’s crucial for both buyers and sellers to stay informed and adapt their strategies accordingly. Navigating this dynamic market requires a tailored approach, and I’m here to provide insights and guidance tailored to your specific real estate goals.
Let’s connect to discuss how these market dynamics may impact your plans and explore the best strategies for success in today’s Contra Costa County housing market. 📈🏡 #ContraCostaRealEstate#MarketUpdate#RealEstateExpertise
🏡 Orange County Housing Update: Low demand levels do not mean that the market is not exceptionally hot. Today’s Expected Market Time (the number of days to sell all Orange County listings at the current buying pace) is 40 days. At 40 days, buyers compete, bidding wars are the norm, and home values are rising. This occurs with a scarcity of supply, which is precisely what the housing market is experiencing today.
If you have questions about the current real estate market, please feel free to reach out!
#WalkerRealEstateGroup#DanieleSmithRealtor#SoCalRealtor#ColdwellBankerRealty#OCHousingMarket#OCHousingUpdate
🏡 Orange County Housing Update: With the inventory nearly unchanged and demand falling, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, increased from 54 to 56 days in the past couple of weeks, its highest level since February. It was 87 days last year, slower than today. If you have questions about the current real estate market, please feel free to reach out!
#WalkerRealEstateGroup#ChrisWalkerRealtor#OCRealtor#ColdwellBankerRealty#OCHousingMarket#OCHousingUpdate
Home Builders Marketing, Inc / RLBrownReports
1wI assume that you are referring to the combination of new and resale home sales. The relative weight of resale versus new would not be an accurate measure of new home price conditions because of the typical disparity in total home sales velocity between new versus resale.