In the real estate world, numbers and statistics can fluctuate quite rapidly over the course of weeks and months. This past week’s news included reports pertaining to rising home prices throughout Orange County, an increase in home sales in the month of March and a decrease in mortgages. Outlined below is a summary of this past week’s Orange County real estate news:

     

  • Inventory of homes for sale up to 11,028 from 10,828 a month ago
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  • 30-year fixed mortgage rates down to 4.78% from 4.8% a week ago and 5.06% a year ago
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  • Mortgage defaults up 35% from February 2011
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  • Rent cost change at 1.6% – the seventh consecutive month of year-over-year increase
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  • Latest median home price was unchanged from a year ago with price decreases in 53 of 83 Orange County zip codes
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  • New home sales up 11% in March
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  • “Markets Hitting Rock Bottom” – Many investors are moving quickly to purchase properties that are estimated to turn a profit in areas such as Las Vegas and the Inland Empire
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  • Record Sale in Dana Point – a $14.2 million sale
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  • Orange County property asking prices rank the fourth highest in the United States ($450,000)
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If you are interested in receiving additional 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.