Orange County Housing Market Update: Rising Interest Rates, Severe Supply Shortage & Housing Prices

StellarQuest Real Estate - Lic# 02077900
www.StellarQuest.com
Video By: Tim Hamilton
Broker Associate Lic# 01959966
(714) 486-4086
timsellsca@gmail.com

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. Home prices are still increasing at a rapid pace and homes are selling quickly with multiple offers.

The market is currently being pulled in opposite directions by 2 economic forces. On one hand we have an incredibly low number of homes for sale. This is supporting continued bidding wars and rapidly increasing home values. On the other hand we have rising interest rates that are pulling the market back towards equilibrium. Which force will win? Only time will tell. We will keep an eye on it and keep you up to date as the data comes in.

We also do an analysis of how rising interest rates impact a buyer's monthly mortgage payment. So far, interest rates have not risen high enough to have a significant impact on buyer demand. If rates continue to rise it could cause some buyers to take a step back from purchasing a home.

We get most of our information from "The Orange County Housing Report" that is written by Steven Thomas.

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/

You can also visit our website at https://www.stellarquest.com

#housing #marketupdate #orangecounty #buyahome #sellahome

Chapters:
0:00 2 Strong Economic Forces
1:25 Severe Shortage of Homes
2:43 Strong Buyer Demand
4:02 Increasing Mortgage Payments

Видео Orange County Housing Market Update: Rising Interest Rates, Severe Supply Shortage & Housing Prices канала StellarQuest Real Estate