Orange County Real Estate Summary: June 13, 2011
This past week’s Orange County real estate news included talk about a decrease in distressed properties, the privatization of a mortgage finance system, and home loan approvals. Outlined below are the most recent Orange County real estate statistics.
- Inventory of homes for sale up to 11,219 from 11,188 two week prior and up from 11,144 a month ago.
- 30-year fixed mortgage rates down to 4.55% from 4.6% a week ago and 4,79% a year ago
- Mortgage defaults are down from the month of April at 1,237. March number of defaults were 1,793. Defaults were also down 23.9% from April 2010 totals.
- Foreclosures were down to 561 in the month of April – down 21.6% from March’s 716 number and down 23.9% from April 2010 totals.
- The cost of rent change (renter inflation) was up 1.5%.
- Residential permits in April were up 765 – 40.1% higher than March’s 307 totals.
If you would like more information about market statistic data, including year-to-date sold totals, active and in escrow properties and breakdowns of the Newport Beach, Corona del Mar, Eastside Costa Mesa and Laguna Beach markets, please visit our Market Statistics page.