Advice for Home Sellers and Home Buyers in Orange County
The housing market in Orange County is drastically different today than it was during the first few months of the year. The median home price is falling, mortgage rates are much higher, the total number of homes for sale has grown, homes are taking longer to sell, and bidding wars are A LOT less common. In order to find success as a home buyer or home seller you need to approach the market differently in the second half of 2022. Watch the video to learn how you should approach the housing market today!
We also analyze what has happened to the monthly mortgage payment on the median priced home as interest rates rose. The monthly mortgage payment on the median priced home in Orange County has gotten a lot more expensive this year. This has caused some buyers to step back from the market, and some buyers have also been priced out of the market.
Below are a few interesting charts related to housing market values:
Stocks vs. Home Values: https://www.longtermtrends.net/stocks-to-real-estate-ratio/
Home Values vs. Median Income: https://www.longtermtrends.net/home-price-median-annual-income-ratio/
Home Values vs. Inflation https://www.longtermtrends.net/home-price-vs-inflation/
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StellarQuest Real Estate – Lic #02077900
www.StellarQuest.com Video
By: Tim Hamilton
Broker Associate
Lic# 01959966
(714) 486-4086
timsellsca@gmail.com