🔑Many buyers and sellers are holding out and hoping for a change in the market. Buyers want to see housing slow ot a crawl like it did in the last four months of 2018 where, for a moment, they were in the driver's seat. They would love to see the prices come down, after all, aren't values too high?
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🔑Last year, major cracks in the housing market emerged. The HOT Market continues from 2012 through the start of 2018, until the underlying fundamentals quickly eroded. From May through August of last year, the active inventory climbed 17% and demand dropped by 10%.
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🔑The year, from May to the Start of August, the active inventory has remained unchanged, demand has only dropped by 2% and the Expected Market Time increased by only 1%. Housing is not grinding to a halt. The sky is not falling.
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If you would like to read the full copy of the Orange County Housing Report for more information, please contact me to obtain a copy.
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Who You Work With Matters 🎯
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