Orange County’s inventories continue to rise. As of the middle of June 2007, Orange County homes for sale is approximately 16,900. According to DataQuick Information Systems, last month in may the home sales hit the lowest in at least 2 decades, falling 37.5 percent below the month’s norm.  I predict that we will be above 17,000 by the beginning of July.

 

Currently the number of new escrows is just over one sale for every ten homes compared to two yeas ago it was three homes in escrow for every four listed.

For an Orange County market update click "My Newsletter" to read the latest.  Please contact me for more info about rents, purchasing you own personal residence or investment properties.  888-877-6062.