With low inventory and extremely strong demand, the Expected Market Time is at its lowest level to start October since tracking began in 2004. The expected market time for all of Orange County is at 38 days which is a Hot Sellers Market. It was 86 days last year at this time. Buyers: Affordability has improved with record low interest […]
Are Prices High because Rates are Low?
Why Are Home Prices Rising So High? Blame Record-Low Mortgage Rates. When the coronavirus pandemic gutted the strongest U.S. economy, many assumed another recession would bring rock-bottom home prices along with it. Instead, home prices defied logical assumptions—and soared to new heights. Paradoxically enough, one of the biggest drivers of the double-digit price hikes is […]
Mortgage Rates Hit Record Lows
One of the few bright spots for home buyers and owners in 2020—a year marred by a pandemic, economic recession, social unrest, wildfires, hurricanes, and a highly polarized presidential election—has been rock-bottom mortgage interest rates. Mortgage rates have been tumbling since COVID-19 disrupted the nation’s economy, achieving what many experts had believed was impossible: They […]
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