Newport Beach CA Homes

The Summer Market is officially here and with it typically comes an increase in the inventory, a slight drop in demand, and a rise in market time.  Summer Market-Expect a downshift from the Spring Market to the Summer Market. The end of the school year has finally arrived, and diplomas have been distributed at festive … [Read more...] about ORANGE COUNTY HOUSING REPORT-SUMMER TRANSITION

As home values rocket upwards, affordability weakens,yet homes are still not too far out of reach for most buyers because of low mortgage rates. Low Rates Prop Up Affordability-Even with record level home prices, low mortgage rates have kept affordability in check. In 1980, a new car cost around $7,200 and a gallon of gas … [Read more...] about ORANGE COUNTY HOUSING REPORT-IS HOUSING UNAFFORDABLE?

With housing values soaring like they did prior to the Great Recession coupled with recent inflation news, many are calling for a correction in housing. No Crash Coming-Housing data illustrates that there is not a housing crash on the horizon. Home prices were surging from 2000 through 2006. Homeowners were sitting … [Read more...] about ORANGE COUNTY HOUSING REPORT-CRASH COMING?

The lower price ranges are disappearing with far fewer homes available to purchase, and it is impacting the number of affordable closed sales. Vanishing Lower Ranges-A mind-blowing 29% fewer homes have come on the market below $750,000 so far this year. For the most part, prices do not remain the same. Over time, just … [Read more...] about ORANGE COUNTY HOUSING REPORT-ON THE ENDANGERED LIST