Housing Recovery in Orange County

After a 5 year slump, Orange County is seeing signs of a housing recovery. We have seen a steady rise in home values, increasing by 19.9 percent, during the past 12 months in Orange County. 

Driving Forces

Customer demand and interest rates have been the driving force in the housing recovery nationwide. One would think that low inventory and rising interest rates would slow buyer confidence. However, housing recovery in Orange County continues in a positive direction.

Rising interest rates, median rental price increases, and a bottomed out inventory have contributed to the housing recovery across the nation. High affordability despite rising interest rates continues to draw buyers who may have held back before the current recovery.

Though interest rates have risen, buyers continue to benefit from relative low interest rates when compared to years prior to the recession.

A Good Time To Sell

Moving from a buyer’s market to a seller’s market has its advantages from a seller’s prospective. As more and more homeowners see the possibility of equity in their homes again, they may want to take advantage of the strengthened market.

At the same time, more buyers are actively looking, and if you add low inventory to the mix, now is a good time for homeowners to consider selling their home in Orange County and across the nation.

Those who have considered purchasing a new home see the current market as their chance to sell their existing homes - moving closer to buying their dream home.

Advantages To Buyer’s And Seller’s Alike

As prices increase, buyers realize that a year from now, they will be paying even more for home purchases and likely at higher interest rates. Sellers who want to move from their existing homes and purchase a newer home will be paying the increased prices and interest rates as well.

It’s a good time to take advantage of the housing recovery in Orange County.