OC Housing Report: Top 3 Trends
Posted 10/30/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market.
The OC Housing Report: Top 3 Trends is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
With so many varying viewpoints and narratives swirling about the housing market, it is best to take a step back from the noise and focus on the latest trends.
Housing Market Trends: It is the home stretch of the 2024 housing market, and definitive trends have emerged.
- When mortgage rates drop below 6.5% with duration, demand will rise and market times will drop.
- The 2024 inventory peak has been delayed yet again.
- Negotiations have shifted more toward the buyer’s favor as the year winds down.
Active Listings: It appears as if the inventory finally peaked.
Demand: Demand decreased by 2% in the past couple of weeks.
Luxury End: The luxury market slowed in the past couple of weeks.
See below for an exclusive snap shot of the OC Housing Report: Top 3 Trends
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
OC Housing Report: Overpricing Dilemma
Posted 10/16/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market.
The OC Housing Report: Overpricing Dilemma is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
As the inventory continues to rise, more sellers are reducing their asking prices or pulling their homes off the market altogether, indicating that far too many homes are overpriced.
Stretching the Asking Price: The number of homes pulled off the market this year compared to last year is up 21%, and 34% of the active listing inventory has reduced the asking price at least once.
Active Listings: The active inventory increased by 1% in the past couple of weeks.
Demand: Demand increased by 3% in the past couple of weeks.
Luxury End: The luxury market improved slightly in the past couple of weeks.
See below for an exclusive snap shot of the OC Housing Report: Overpricing Dilemma
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
OC Housing Report: A Jump in Demand
Posted 10/2/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market.
The OC Housing Report: A Jump in Demand is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
After topping 7.5% in April, mortgage rates have declined to the low sixes and have remained there with duration, paving the way for an uncharacteristic late September rise in demand. Lower Rates Impact Demand therefore demand jumped by 10% in the past couple of weeks.
Active Listings: The active inventory may have reached a peak two weeks ago.
Demand: Demand jumped by 10% in the past couple of weeks.
Luxury End: The luxury market improved slightly in the past couple of weeks.
See below for an exclusive snap shot of the OC Housing Report: A Jump in Demand
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
OC Housing Report: A Frosty Autumn
Posted 9/25/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: A Frosty Autumn is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
Housing has been slowing through both the Spring and Summer Markets, yet the slowdown has picked up its pace since transitioning to the Autumn Market. The Orange County housing market has downshifted considerably since March.
ATTENTION BUYERS: Do not wait for prices to plunge before purchasing. Buyers who attempt to time the market end up regretting the delay and often get burned. Since rates are forecasted to continue to fall with a cooling economy, more buyer demand is on the horizon. Rates have only plunged recently, starting at the tail end of the Summer Market. Improved affordability did not align with real estate’s busiest time of the year. Yet, it will line up much better with the 2025 market, and housing will be hotter with tremendous competition and rising values.
ATTENTION SELLERS: Today’s market requires a meticulous, cautious approach to pricing. Overprice and it will result in wasted market time and an unsuccessful outcome. Homes that are in excellent condition, attractively upgraded, recently updated, and ready for an immediate move-in will attract the most attention and will sell the fastest as long as they are appropriately priced. Competition among sellers has been on the rise, demanding careful pricing and for many to sharpen their pencils.
Active Listings: The active inventory increased by 3% in the past couple of weeks.
Demand: Demand declined by 4% in the past couple of weeks.
Luxury End: The luxury market improved slightly in the past couple of weeks.
Click here for an exclusive snap shot of the OC Housing Report: A Frosty Autumn
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
OC Housing Report: A Waning Market
Posted 9/11/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: A Waning Market is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
Housing is slowing in 2024 because more homeowners have decided to sell, and they have been accumulating on the market. Thus we are seeing a rise in market times. The Expected Market Time is at its highest level for a start to September since 2019.
Active Listings: The active inventory increased by 3% in the past couple of weeks.
Demand: Demand plunged by 8% in the past couple of weeks.
Luxury End: The luxury market cooled slightly in the past couple of weeks.
See below for an exclusive snap shot of the OC Housing Report: A Waning Market
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
Is Your Home the Right Size for You?
Posted 8/28/24
Information provided by Buffini & Company
It’s rare for most people to remain in the same home throughout their adult lives. Sometimes, a growing family needs a larger home. Or it could be kids moving out on their own, leaving parents with a space that’s too big for their lifestyle.
Choosing to upsize — or downsize — can be an emotional, as well as logistical, decision. If you’re at that point in your life, this month’s flyer (click here: https://bit.ly/4dJ24WQ ) will help you start thinking about that process and make it a little less daunting.
We belong to a large network of real estate professionals across North America so if you’re ready to move onto the next stage of your life — local or not — we can help you find the home of your dreams. Let’s set up a time to chat and start the conversation
OC Housing Report: Still Waiting, No Offers
Posted 8/21/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: Still Waiting, No Offers is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
Although many sellers approach the housing market as if it is as hot as 2023 or early spring of this year, they quickly realize that it is not instant. A surprising 54% of the active inventory has been on the market for at least a month.
It is taking longer to sell in Orange County than in early spring and last year. The Expected Market Time (the number of days it takes to sell all Orange County listings at the current buying pace) is at 66 days today. At the end of March, it was 37 days, the hottest reading in 2024 and an exceptionally fast pace. That is a substantial, noticeable difference in the marketplace. Last year, at this time, it was 46 days, much faster than today.
Active Listings: The active inventory increased by 2% in the past couple of weeks.
Demand: Demand increased by 4% in the past couple of weeks.
Luxury End: The luxury market has improved slightly in the past couple of weeks.
Below is an exclusive snap shot of the OC Housing Report: Still Waiting, No Offers
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!
OC Housing Report: Go For Gold-Don’t Wait
Posted 8/19/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: Go For Gold-Don’t Wait is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
Mortgage rates have plunged from 7.5% in April to 6.34% today, opening up a window of opportunity for buyers who should not wait.
A Window of Opportunity: Since rates have dropped in anticipation of future Federal Reserve rate cuts, now is the ideal time, and waiting will prove to be the incorrect strategy.
Active Listings: The active inventory increased by 2% in the past couple of weeks.
Demand: Demand remained unchanged in the past couple of weeks.
Luxury End: The luxury market has not changed much in the past couple of weeks.
Below is an exclusive snap shot of the OC Housing Report: Go For Gold-Don’t Wait
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@PlatinumEdgeProp.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!
OC Housing Report: A Buyer-Friendly Shift
Posted 8/5/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: A Buyer-Friendly Shift is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
- Year over year, the active listing inventory is higher, demand is about the same, and it is taking a lot longer to sell a home, which translates to a market lining up more and more in favor of buyers.
- Higher Market Times: Housing has slowed from a 42-day Expected Market Time in May to 66 days today, a much more favorable market speed for buyers.
- Active Listings: The active inventory jumped 10% higher in the past couple of weeks.
- Demand: Demand dropped by 6% in the past couple of weeks.
- Luxury End: The luxury market slowed in the past couple of weeks.
As always, if you have any questions about the report or if there’s anything else we can assist you with, please don’t hesitate to reach out.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!
6 Strategies to Save on Home Insurance Premiums
Posted 4/10/24
Information provided by The Paperless Agent
According to Bankrate, U.S. home insurance premiums are up an average of 23% in 2024. 😧
But, you can still save on rates if you’re strategic. Here are a few of our top tips:
🛍️ Shop Around
We recommend that you review at least three estimates while taking into account any differences in the policy terms.
💸 Increase Your Deductible
According to Nerdwallet, raising your deductible from $1,000 to $2,500, for example, could save you an average of 11% each year.
🔨 Make Strategic Home Improvements
Some projects—like updating your electrical system—can reduce your rates by making your home safer or less prone to damage.
Check out our blog post for even more ways to save on home insurance!
OC Housing Report: The Temperature of the Market
Posted 4/8/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: The Temperature of the Market is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
- Comparing today’s inventory and demand levels to prior years reveals the accurate temperature and trends of the current market.
- Low Inventory and Demand: Even with low demand, the low inventory has paved the way for a very hot Spring Market.
- Active Listings: The active inventory decreased by 3% in the past couple of weeks.
- Demand: Demand increased by 5% in the past couple of weeks
- Luxury End: The luxury market improved in the past couple of weeks.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
3 Reasons to Document Your Home Improvements
Posted 3/25/24
Information provided by The Paperless Agent
OC Housing Report: A Climbing Inventory
Posted 3/20/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: A Climbing Inventory is now available, and we thought you might find it valuable.
In this report, you’ll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you’re buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
- More Homes to Buy: From the start of the year to today, more homes are available in every price range.
- Active Listings: The active inventory increased by 5% in the past couple of weeks.
- Demand: Demand increased by 4% in the past couple of weeks.
- Luxury End: The luxury market slowed in the past couple of weeks.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@HelpUSellWright.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!
Downsize Your Home, Rightsize Your Life
Posted 3/11/24
Information provided by The Paperless Agent
Is your home feeling like more than you can manage in your current stage of life? It might be time to think about downsizing.
But to make the most of your move, you’ll need to consider more than just square footage. Here’s what to keep in mind:
🏠 Lifestyle: Are there hobbies you want to pursue in your new home? Do you want to be close to friends and family? Think about your ideal lifestyle and how your home can support it.
🏠 Design: Small doesn’t have to mean cramped. Look for a home that’s designed to maximize storage space, natural light, and functionality.
🏠 Long-term accessibility: If you hope to age in your new home, look for features like single-story living and proximity to high-quality healthcare.
Want more downsizing tips? Check out our latest blog post. Reach out to The Wright Team at 949.770.9888 if you’re ready to start the next chapter with our expert real estate services!
OC Housing Report: The Time is Now
Posted 3/6/24
Information provided by Steven Thomas, Local Economist
🏠📊 Exciting news! As your trusted real estate team, we’re offering a free copy of the latest housing market report!Stay informed about the latest trends and insights. Give us a call or send us your email address, and we’ll send it right over! 📈
🪧 #TheWrightTeam
📲 949.770.9888
DRE#00767891/01258209
#RealEstate #HousingMarketReport#housingmarket #housingreport #ochousing #ochousingmarketupdate #orangecounty #ocrealestate #homesellers #homebuyers #homesearch #realestate #realestate #fullserviceagency #flexiblecommissionstructure #savethousandsincommissions #TheWrightTeam #TheWrightHome
OC Housing Report: The Rate Migration
Posted 2/21/24
Information provided by Steven Thomas, Local Economist
Orange County Housing Report: The Rate Migration
Mortgage rates have crept their way back above 7% with hotter than expected economic readings, resulting in a slowdown in purchase activity.
Rate Sensitivity
The 7% mortgage rate is a psychological barrier to the housing market.
Active Listings
The active inventory was flat in the past couple of weeks.
Demand
Demand increased by 8% in the past couple of weeks.
Luxury End
The luxury market has improved dramatically in the past couple of weeks.
Below is a Snap Shot of the current OC Housing Report: The Rate Migration
(Due to Posting Restrictions, To View the Full Report Email, Us at Info@HelpSellWright.com or Call 949.770.9888 for a FREE Copy of the Report)
OC Housing Report: A Red-Hot Winter
Posted 1/25/24
Information provided by Steven Thomas, Local Economist
Orange County Housing Report: A Red-Hot Winter
Now that the holidays are over, it is time for housing to shift to the Winter Housing Market, when the inventory is flat, demand rises, and the pace of the market rapidly heats up.
Winter Housing Market
Mixing a chronically low inventory with rising demand has always resulted in a much hotter housing market as winter progresses.
Active Listings
The active inventory increased by 6% in the past couple of weeks.
Demand
Demand skyrocketed higher by 17% in the past couple of weeks.
Luxury End
The luxury market improved in the past couple of weeks.
Below is a Snap Shot of the current OC Housing Report: A Red-Hot Winter
(Due to Posting Restrictions, To View the Full Report Email Us at Info@HelpSellWright.com or Call 949.770.9888 for a FREE Copy of the Report)
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
Full Service…Save Thousands…Experts Next Door!!!
OC Housing Report: A Powerful Beginning
Posted 1/15/24
Information provided by Steven Thomas, Quantitative Economics and Decision Sciences
Orange County Housing Report: A Powerful Beginning
Unlike the sluggish start to 2023, this year’s housing market has kicked off with a scarcity of homes available and a much faster pace.
The 2024 Start
With the second-fewest homes to start a year since tracking began in 2004, the Orange County housing market is already hotter than pre-COVID years.
ATTENTION BUYERS: Waiting for the market to slow and negotiations to line up in a buyer’s favor is not the answer. For the market to lean in favor of buyers, there needs to be considerably more homes available to purchase compared to weak demand. Unfortunately, there is a chronic scarcity of homes with FOR-SALE signs in the yard. This will not suddenly change anytime soon based on all current trends. With mortgage rates anticipated to drop further this year, there will be increased buyer competition with increased home affordability. Yes, more homes will opt to sell as rates drop, but the more robust demand will offset any increase. Instead, buyers should pursue a purchase with patience and steadfast determination. It may take several offers to find success, but it is that kind of persistence that is ultimately rewarded with the keys to a new home.
ATTENTION SELLERS: Take advantage of the hotter market by pricing a home close to the last comparable or pending sale. Careful pricing will allow a seller to tap into all the buyers waiting for every home that hits the market. A realistic price will allow a seller to attract immediate interest. Sellers who stretch the asking price too much and grossly overpriced will result in wasted market time and less activity as the price is adjusted down the road. In this market, it is best to take advantage of the buyer pool that is carefully watching and waiting for every new home that matches their search.
Active Listings: The active inventory dropped by 4% in the past couple of weeks.
Demand: Demand plunged by another 18% in the past couple of weeks.
Luxury End: The luxury market has not changed much in the past couple of weeks.
Below is a Snap Shot of the current OC Housing Report: A Powerful Beginning0
(Due to Posting Restrictions, To View the Full Report Email Us at Info@HelpSellWright.com or Call 949.770.9888 for a FREE Copy of the Report)
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
Full Service…Save Thousands…Experts Next Door!!!
(All 2023 posts have been archived)
