Orange County Homebuying has Busiest November in 15 Years!
"Orange County Homebuying has Busiest November in 15 years!
3,302 homes sold, existing and new — up 19.4% in a year
A study by DQNews of closed transactions in Orange County from November shows:
• 3,302 homes sold, existing and new — highest November tally since 2005;
up 19% in a year; and 19% above the previous five year’s average transactions.
Year to date there have been 31,326 Orange County purchases — up 2% vs. 2019.
• $799,500 countywide median selling price — up 8.2% over 12 months.
Record high? $800,000 set in August.
Since the Great Recession, the median is up 24% vs. the bubble-era high. Price Rank:
How Orange County’s median compared with Southern California’s five other counties:
- No. 1 overall
- No. 1 for single-family resales
- No. 2 for condo resales
- No. 1 for new homes
How Cheap is Mortgage Money? Rates on a 30-year, fixed-rate mortgage averaged 2.83% in the three months ending in November vs. 3.66% a year earlier.
That translates to house hunters having 11% more buying power thanks to pandemic-era policies by the Federal Reserve.”
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Lansner, Jonathan. “Orange County Homebuying Has Busiest November in 15 Years.” Orange County Register, Orange County Register, 25 Dec. 2020, www.ocregister.com/2020/12/25/orange-county-homebuying-has-busiest-november-in-15-years/?utm_email=345B740B14BCC4C1D519449D14.