Want to get a full breakdown of where the housing market stands today and what the end of the foreclosure moratorium means for the housing market? Check out the quick market update by clicking learn more now.
Demand is down by 3% since the start of July, however over the last two weeks we have seen demand increase a little bit which is mainly due to the interest rate decrease we have seen over the last month.
Supply is up 6% since the beginning of July, most of that increase happened over the first two weeks of the month and over the last two weeks homes hitting the market have slowed down a bit.
Interest rates are current averaging 2.8%, down from 3% where they were at the beginning of July
The average days on market for a home in Orange County right now is 27 days, compared to the 5 year average of around 78 days for July you can see this market is still a deep seller’s market. In fact anything under 60 days is considered a seller’s market.
