Half of the year is already gone and many who thought a giant housing crash was coming this year are surprised to see that home price in Orange County are actually headed back up. Since March we have seen homes appreciate in Orange County and as we head to the back half of the year, based on the current data, you can expect that trend to continue. Even with high rates and home prices, there is just not enough supply on the market to allow values to drop. More than 60% of homes are selling at or above asking price right now in Orange County which is even more than last month. With home owners hesitant to sell their homes and give up their historically low interest rates, and because current interest rates haven't budged much lower than the beginning of 2023, inventory is likely to be a problem for the remainder of the year.
