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January Housing Market Update 2022: Orange County Real Estate Market Forecast & Price Prediction 2 года назад


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January Housing Market Update 2022: Orange County Real Estate Market Forecast & Price Prediction

The housing market had an incredible 2021. The median home value in Orange County increased by 15.7% from October 2020 - October 2021. Even more impressive, was the 20% price increase we saw in existing single family homes. So far in 2022, the housing market has remained in an incredibly HOT seller's market where homes are selling extremely quickly and increasing in value. We started 2022 with a record low number of homes for sale. The total number of homes for sale in Orange County started the year right around 1,000. This was a record low level of homes for sale in Orange County! The prior low was last year at around 2,500, and we had a severe inventory shortage at that time. Buyer demand has remained relatively strong, but is being limited by the total number of available homes for sale. Steven Thomas is predicting another incredible year in the housing market! He expects 3-6% less closed sales compared to 2021. This is still a strong year, considering 2021 had the highest number of closed sales since 2005. He expects the total number of homes for sale to grow and peak at 5,000 sometime around August. This is much more than the approximately 2,600 home peak in 2021, but is still substantially short of the about 7,000 home peak in 2019. For the year, he is expecting home value appreciation of about 8-10%! Most of the appreciation is likely to occur between January and July. If you would like to learn more about any of these topics please feel free to let me know and I will send you the articles you are interested in. Below are a few interesting charts related to housing market values. Stocks vs. Home Values: https://www.longtermtrends.net/stocks... Home Values vs. Median Income: https://www.longtermtrends.net/home-p... Home Values vs. Inflation https://www.longtermtrends.net/home-p... You can also visit our website at https://www.stellarquest.com StellarQuest Real Estate - Lic# 02077900 www.StellarQuest.com Video By: Tim Hamilton Broker Associate Lic# 01959966 (714) 486-4086 [email protected] Chapters: 0:00 An Incredible 2021 1:07 Contact Me For a Free Report 2:11 Closed Sales and Buyer Demand 2:40 Still an Incredibly HOT Market 3:42 2022 Forecast - Another Great Year! 3:57 Closed Sales Down Slightly 4:16 Growing Supply of Homes 4:51 8-10% Home Price Appreciation 5:17 Interest Rate Prediction 5:55 Foreclosures and Forbearance 6:25 Forecast Summary 7:14 Call if You Are Buying or Selling!

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