Market update provided by Teresa Mihelic of OCDreamhomes in Orange County, California.
This has been a very interesting year for our real estate market in Orange County. And this time of the year, we would have expected that the demand (the number of new pending sales) would have started to decline as we head into the holiday season.
Well, not this year.
It didn’t follow the “expected” cycle for the first half of the year (it constantly kept growing with a few step backs), and it has increased by 130 homes in the past 2 weeks and now totals 2974 pending sales.
To give some perspective, at this time of the year over the last few years, these were the numbers:
2008: 2,974 pending sales
2007: 1,180 pending sales
2006: 2,208 pending sales
2005: 3,058 pending sales
Demand is surpassing the prior 2 years, and looking like 2005 numbers. We will continue to see an influx of Continue reading this post