What happened to affordable, entry level housing? The simple answer is appreciation

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What happened to affordable, entry level housing? The simple answer is appreciation

Laguna Summary:

  • Inventory increased to 212, which is the highest for March in the last three year. 11 are below a $1m and 65 are above $4m. However, the number is still historically low
  • The demand (shown by new escrow openings) remained strong
  • Still a strong sellers’ market for compelling homes in good locations.

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Click here to see the graphs and charts for Laguna’s Market as of March 2016

Orange County Summary:

  • Orange County has posted 45 consecutive months of year-over-year price increases, although double-digit price jumps ended nearly two years ago
  • Orange County had an average of 5,455 homes posted in the multiple listing service in late March, the lowest for that period since 2013. Similar trends occurred in January and February.
  • Low inventory has plagued the Orange County housing market since 2012, and it’s getting worse in the lower ranges
  • In March of 2011, homes priced below $500,000 represented half of all listings. Last month, they represented 22 percent of listings and 33 percent of new escrows.

 


About Author

Sean McCracken

As the OC Realtor I’ll help you find your special OC Coastal home at that special price. With my hand holding, I’ll take you through the buying process for the minimal amount of pain - Call Me @ 949-290-5317

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