Despite all the negative talk about housing and what you are hearing on the news, The active inventory decreased by 101 homes in the October and inventory is down 3%. The November housing market is still hot. With an expected market time of 41 days you can be in your new home by Christmas or early next year. It is still a Seller's market. In comparison to last years 71 days on the market according to Steven Thomas with the Orange County Reports on Housing. Steven Thomas also warns buyers not to expect a slow down anytime soon and that right now is an unbelievable opportunity for buyers to cash in on the record low mortgage rates. There is still plenty of buyer competition and if homes are priced well they will not be on the market long. If you hurry you still may be able to get a great deal before the end of the year. For homes priced below $750,000 the market is one of the most competitive. This market represents 34% of the active inventory and 47% of the demand.
For more information on the Orange County Reports on Housing give me a call at 949-422-9073.