4/25/2008

Orange County Sales Are Moving Up

Is 23% the critical number for Orange County sales? Yesterday I got all excited about an Orange County Register article by Jonathan Lansner entitled "Homebuying demand jumps 23%, expert says: Wave of first-time buyers causes number of properties in escrow to soar vs. a year ago" and went looking for the link online. Had a hard time finding that article online, but found this byline about LA/OC home prices by Mr. Lansner as being down 23% this year. In spite of that, here's a quote from the article,
"Demand for Orange County housing is growing, according to Steve Thomas at Re/Max Real Estate Services in Aliso Viejo. As of Thursday, 2,374 houses and condominiums had gone into escxrow in the past 30 days, a 23 percent gain vs. a year ago."

Market absorption time is reportedly 6.55 months at the current rate if all properties currently in escrow are sold, a much shorter period of time than 10-11 months inventory supply in other markets.

If anyone finds the online article, please let me know!

'Voice this!

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