The Orange County Housing Market is doing extremely well- so much so, that it’s supporting the country’s economy tremendously. The seller’s market remains hot as supply decreases and demand is rising by the minute. Record lows and highs moving into the fall season- new home sales have strongly risen and don’t seem to be coming to a halt. As was expected, home buying and selling prospects drastically improved in September 2020 from pandemic lows. With unusually high buyer interest this late in the homebuying season, buyers are moving much faster than this time last year to beat out competition and lock in low mortgage rates. The big question remains, will the housing market crash or recover?
It is estimated that judging by how supportive the housing market has been for the overall pandemic economic recovery, the market is going nowhere but up. The federal reserve has made it clear that it has no intention of raising interest rates in the near future. Historically low interest rates are a huge incentive to buy homes- so if you’re thinking of selling… now’s the time.
Reports on Housing: Stephen Thomas