ORANGE COUNTY HOUSING REPORT
The shortage of new and existing homes coming on the market is driving prices up and constraining home sales. Home price appreciation in California for 2018 is forecasted to increase 4.2% according to the California Association of Realtors. Housing prices are growing at the fastest pace in nearly 2 years.
- The median sales price was up 4.8% to $770,000 for single family homes and up 15.6% to $502,995 for townhouse-condo properties. This is now higher than the previous peak in 2006.
- New listings were up 4.8% for single family homes and up 7.8% for townhouse-condo properties.
- Pending sales decreased 43.7% for single family homes and dropped 44.8% for townhouse-condo properties.
- The supply of inventory decreased 8% for single family units and dropped 5.9% for townhouse-condo units.
- Source: California Regional Multiple Listing Service Infosparks Market Reports. Percentages are year over year changes.