Strong Fundamentals have the Housing Market Firing on All Cylinders
Consider 2020 a historic year for numerous reasons, especially for the Orange County Housing Market. With the Spring Market kicking into high gear early into summer, it appears that this year’s Autumn Market is going to be one marked with the characteristics of a hot Summer Market.
All signs point to an extraordinary September, October and first half of November, which is great news for both buyers and sellers alike. The current market landscape is equipped with strong fundamentals such as low supply, fierce demand, low mortgage rates and a strong demographic of first-time buyers.
This Autumn Market may be the hottest in years!
Low supply and feverish demand is fueling a fast-paced market with multiple offers and low expected market times. According to the latest Thomas Report on Housing, the active inventory for Orange County is the lowest it’s been since tracking began in 2004, and the current demand is the highest it’s been since 2012.
Tons of first-time home buyers are making their way to the real estate market with the lowest mortgage rates we’ve seen in years. Increased affordability marked by record low mortgage rates is fueling today’s remarkable demand. As more and more first-time buyers enter the real estate market, the demand is going to continue to increase. And that translates into homes not only being sold, but sold quickly.
A Note to Sellers: If you’ve been thinking about selling your Orange County home, it’s time to start preparing your home for the market.
As a seller, you have the advantage right now. People are buying homes right now, evidenced by the increase in pending home sales throughout Orange County and the consistent demand that we’re seeing. It’s a Hot Seller’s Market, with all signs indicating that September and October will continue in the same fashion. Don’t let the uncertainty of the times dictate whether you sell your home. The statistics present a truth that cannot be denied.
Work with One of the Best Realtors in Orange County
Now more than ever it’s imperative to work with an experienced local real estate agent who understands the real estate landscape and can help you find success. Rosemary Hieber is that realtor. With more than 20 years of experience and $280 sold locally and personally, Rosemary is the #1 Coldwell Banker Real Estate Agent in Ladera Ranch for a reason. She has already sold several homes during this pandemic for Top Dollar and in Record Time. Contact her today to start the listing process and remember, “It Doesn’t Cost More to Work with the Best!”
- M: 949.285.3215