Are you considering buying a home in Orange County? If so, you're probably wondering what the current real estate market looks like. Homeowners and prospective buyers should keep a close eye on the market and consult a reliable real estate expert for advice. According to Josh Schroeder, a real estate agent with Pacific Sotheby's International Realty in Orange County, mortgage rates are expected to decrease and inventory to expand throughout the year. Despite the potential recession and other unforeseen events, the lack of homes for sale will likely boost the single-family residential housing industry in Southern California and Orange County.
The figures demonstrate that home prices in Orange County are increasing, which is usually an indication that there is a seller's market. It will be interesting to observe how the Orange County housing market will evolve in the upcoming months and if these trends will continue or be reversed. Ultimately, whether now is a good time to purchase a home in Orange County depends on each buyer's individual situation, preferences and financial position. As the market continues to normalize, a year-on-year price drop could persist its trend in the Orange County housing market.
If you're looking to buy a home in Orange County, it's important to stay informed about the current real estate market. Consult a reliable real estate expert for advice and keep an eye on mortgage rates and inventory levels. This will help you make an informed decision about when is the best time to purchase a home in Orange County.