Weekly Snapshot: The Orange County Real Estate Market
This past week’s news included reports pertained to rising inventory of homes throughout Orange County, an decrease in number of home defaults in Orange County, and a decrease in mortgage defaults.
If you would like additional information about market statistics in the Costal Orange County area, including year-to-date sold totals, escrow properties and active listings, along with detailed breakdowns of Newport Beach, Corona del Mar, Eastside Costa Mesa, and Laguna Beach, please visit out Market Statistics Page.
Outlined below is a summary of this past week’s Orange County real estate news:
Inventory of homes for sale up to 11,188 from 11,144 two weeks ago and 11,078 a month ago.
- 30-year fixed mortgage rates down to 4.61% from 4.63% a week ago and 4.84% a year ago.
- The number of mortgage defaults for April were 1,237, down 31% from March and down 23.9% from April 2010 total.
- The number of foreclosures for the month of April was 561, down 21.6% from March and down 29.6% from April 2010.
- The cost of renter inflation was up 1.5%.
- Latest median home price was unchanged from a year ago with price decreases in 47 of 83 Orange County zip codes.
- The average number of months it would take to sell all of the listed homes in Orange County at their current rate of buying taking place: 3.68 months.
- Sales of new homes were up 6.5%.
Please feel free to contact us should you like any additional information.