New Data Shows The Market Volume Slow Down – 12/2/2018

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New Data Shows The Market Volume Slow Down – 12/2/2018

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Below is a Core-Logic recap of our current Orange County Real Estate Marketplace.  Source: OC Register, 12/2/2018.

Use the flowing data to help make good real estate decisions.  We are happy to help you too.

Home Prices

Resale Homes +2.0%, Resale Condos +9.7% and New Home Sales +20.8%
All totaled, OC home values are up +3.9% versus last year
Median OC home price is $720,000 up versus one year ago
$1,000,000 plus homes represent 37.3% of all OC listings (26% drop in 6 months)
Use Real Estate data to make good decisions.  Don’t be afraid to reach out to us with questions.

Sales Volume

30-year fixed Mortgage rate is 4.81% no change versus last week
15-year fixed rate is 4.25%, up versus one week ago
Average Home Payment is $3,492.56 up versus one year ago
ARM’s represent 21.6% of all mortgages

Interest Rates

The 30-year fixed Mortgage rate is 4.81% down big versus last week
A 15-year fixed rate is 4.24%, up versus one week ago
Average Home Payment is $3,447.75 up versus one year ago
ARM’s represent 21.1% of all mortgages
Use Real Estate data to make good decisions.  Don’t be afraid to reach out to us with questions.

Statistics

US home ownership is at 64.4% (up versus last year)
California home ownership is 55.2% (up versus last year)
OC/LA home ownership is 47.3% (down from last year)
California led the nation in 2017 with lowest vacancy rate at 8.3%
There were 37,881 homes sold in Orange County in 2017
It takes a $169,850 a year income to buy an OC median priced home?
614 homes sell every hour in the United States!

Facts

California median home price is $525,000
Southern California median home price is $532,000
OC median home price is $720,000
LA median home price is $595,000
Ventura median home price is $595,250
San Diego median home price is $558,000
Riverside median home price is $380,000
San Bernardino median home price is $330,900
Use Real Estate data to make good decisions.  Don’t be afraid to reach out to us with questions.

Trends

OC time on market is up 53% versus last year (61 days vs 122 days)
LA time on market is up 42% versus last year (44 days vs 105 days)
RS time on market is up 24% versus last year (42 days vs 134 days)
SB time on market is up 60% versus last year (45 days vs 117 days)
OC Rental prices average $1,939 a month! +29% versus 2010
LA Rental prices average $1,940 a month! +39% versus 2010
IE Rental prices average $1,334 a month! +29% versus 2010
Only 1.19% of all OC properties currently listed as distressed
Only 21% of all OC earners can purchase a home

Forecast

California Association of Realtors Forecasts a -6.9% in sales for 2019
Chapman University forecasts a 5.6% price increase for OC in 2018
Fullerton University forecasts a 5.6% price increase for OC in 2018
Metro-study and other research companies forecast a 3.2% in OC for 2018
Use Real Estate data to make good decisions.  Don’t be afraid to reach out to us with questions.

Let’s Connect

If you find the above information useful and you like how we use data to help you buy, sell or lease, Contact us.

 

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