Coronavirus twists Southern California housing: Slowest sales, highest prices

Southern California house hunters, challenged by a pandemic, bought the fewest homes in any June on record while record-low mortgage rates helped push the median selling price to an all-time high.

DQ News/CoreLogic reported on Wednesday, July 22 that buyers closed purchases of 17,678 residences — existing and newly built — in June in the six-county region. That’s down 15% in a year as sales fell across SoCal. It was the slowest-selling June in a database that dates to 1988 and was the third consecutive monthly record low for local homebuying.

Stubbornly high unemployment, due to “stay at home” orders designed to limit the coronavirus’ spread, has been a drag on the entire economy, including the home-selling businesses. In addition, many homeowners have chosen not to sell — perhaps fearful of the virus or the fate of their finances. Overall, that cut house hunter’s choices, depressed sales and helped nudge up prices.

Here are five things we learned about the local housing market in June, when homebuying and prices went in opposite directions …

1. June’s balloon

As business limitations were loosened throughout the spring  —  and the real estate industry better adapted to pandemic restrictions — June’s sales improved 44% from May.

That’s the largest May-to-June gain on record and the eighth-largest one-month jump for any month since 1988.

Recent pending sales stats from Zillow show newly opened escrows in Los Angeles and Orange counties were close to year-ago levels as of July 11, with the Inland Empire up 10%. This suggests closings could be back to normal levels later this summer.

“I would argue that we’ve already seen plenty of evidence of a rebound in closed sales consistent with the uptick in pending sales since mid-April,” said Jordan Levine, the California Association of Realtors’ deputy chief economist. “We still have a long way to go to reach full recovery, but the market certainly clawed back a significant chunk of April and May’s lost ground.”

2. Record prices

June’s successful homebuyer paid more to win what’s been a rare find: Homes to buy.

In mid-July, for example, the number of existing homes listed for sale was down 27% in a year in Los Angeles and Orange counties and down 26% in Riverside and San Bernardino counties, according to Zillow.

That short supply was a key reason why the region’s median selling price hit an all-time high of $555,500 in June, according to DQ News — up 2.9% over 12 months. That broke March’s all-time high of $550,000 as record highs were also set in Los Angeles, Orange and San Diego counties.

“It’s likely true that unemployment has knocked some would-be buyers out of the running, but home shoppers are combing over a very limited set of options,” said Jeff Tucker, a Zillow economist.

Do not forget that cheap money is helping the housing market. Mortgage rates, pushed lower in an attempt to stimulate a depressed economy, have fallen from an average 3.7% in December to 3.2% in June.

And this month the 30-year rate fell below 3% for the first time.

3. Builders benefit

Local builders fared relatively well in June, selling 1,692 new homes, down just 7% in a year. Builders got a $558,000 median price — essentially flat in a year.

Having a supply of unsold new home inventory boosted builders’ share of sales in the region to 9.6% vs. 8.7% a year earlier.

Meanwhile, the resale market for existing homes suffered.

Sales of single-family houses totaled 12,472, down 15% in a year. The median selling price was $590,000 — a 3.7% increase over 12 months. Condos fared worse with 3,514 sales, down 18% over 12 months. Median? $470,000 — a 2.8% increase in a year.

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4. Coastal challenge

The sales slump was decidedly deeper by the coast where prices tend to be higher.

Los Angeles County was hit hardest with 5,063 sales, down 24.3% over 12 months. The L.A.median price was $643,000 — up 4% in a year. Ventura County’s 781 sales were down 23.9%. The median of $600,000 — was up 3.5%. Orange County’s 2,447 sales were down 22% as the median price rose 4% to $765,000.

Breaking that trend was San Diego County. Its 3,557 sales were off only 2.4%, the region’s smallest dip, as its median of $600,250 was up 1.7%.

Prices rose sharply in the Inland Empire, the region’s housing bargain.

San Bernardino County had the second-smallest homebuying decline: 2,501 sales, down 3%. It’s SoCal’s cheapest spot with a median of $365,000 — after a 7.4% increase. Riverside County had 3,329 sales, down 12%. Its median of $430,000 — was up 7.8%.

5. Resurgent doubt

Acting fast seems to be common advice in a summertime market with limited choices and folks looking the cash in on cheap mortgages.

As of July, an existing L.A.-O.C. home went into escrow after just 19 days after listing – nine days faster than the same time last year. In the Inland Empire, it took 21 days — 11 days faster than the same time last year.

But the virus still has its say on the economy, and a recent surge in cases, hospitalizations and deaths — and the state’s ensuing U-turn on business reopenings — leaves room for doubt.

“There is certainly concern among some of the potential home buyers about the outcome of the COVID-19 crisis, however there still remains a solid buyer demand which is reflected in the further push of home prices,” said Selma Hepp, deputy chief economist at CoreLogic. Her firm recently forecast what would be the first drop in local home prices in eight years.

“Resurgence of the pandemic in the Southern California region will likely put a damper on future demand and will cause further uncertainty among buyers,” she said.

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Market peak? Southern California homebuying drops, 1st dip in 11 weeks

Southern California house hunters put 3% fewer homes into escrow in the most recent week, the first homebuying drop in 11 weeks.

Zillow’s weekly report on activity from brokers’ listing services in Los Angeles, Orange, Riverside and San Bernardino counties shows the housing market’s first slip amid a rebound from economic turmoil created by the coronavirus pandemic.

With 3,647 existing homes put into escrow in the week ended July 4, the buying pace is 1% above a year ago. Bear in mind, the holiday weekend could be a factor in the cool-off.

Finding something to buy is a challenge. Southern California owners listed 4,592 homes for sale in the week — up 2% vs. the previous week but down 18% in a year. That put total inventory at 28,068 — down 1% vs. the previous week and down 29% in a year.

Record low mortgage rates have put house hunters in a buying mood since early April. But the durability of an employment rebound is now in question. A recent spike in COVID-19 infections has forced a slowdown, if not reversal, of some business reopenings.

This economic uncertainty led CoreLogic to forecast a drop in Southern California home prices. The data tracker predicts Los Angeles County prices will drop 6.3%, Orange County 5.2%, and the Inland Empire 2.4% in the coming 12 months.

Here’s how Zillow’s July 4 data broke down in Los Angeles and Orange counties …

New escrows: 2,100 contracts signed — down 4% in a week; up 14% in a month; down 6% over 12 months.

New listings: 2,821 over seven days — down 1% vs. the previous week; down 2% in a month; down 16% in a year.

Total inventory: 17,450 homes on the market — up 0.2% in a week; up 3% in a month; down 26% over 12 months.

Median list price: $923,178 — up 1% vs. the previous week; up 4% in a month; up 9% in a year.

Selling speed: 19 days, median time for homes entering escrow from listing, 8 days faster than this time last year.

In the Inland Empire …

New escrows: 1,547 — down 1% in a week; down 2% in a month; up 11% over 12 months.

New listings: 1,771 — up 7% vs. the previous week; down 6% in a month; down 20% in a year.

Total inventory: 10,618 — down 3% in a week; down 10% in a month; down 34% over 12 months.

Median list price: $446,760 — up 1% vs. the previous week; up 3% in a month; up 5% in a year.

Selling speed: 21 days, median time for homes entering escrow from listing, 11 days faster than this time last year.

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Statewide …

New escrows: 8,214 — down 0.3% in a week; up 7% in a month; up 14% over 12 months.

New listings: 10,364 — up 1% vs. the previous week; down 10% in a month; down 20% in a year.

Total inventory: 46,847 — down 3% in a week; down 11% in a month; down 41% over 12 months.

Median list price: $697,571 — up 1% vs. the previous week; up 8% in a month; up 16% in a year.

Nationally …

New escrows: 82,488 — down 4% in a week; down 0.04% in a month; up 13% over 12 months.

New listings: 124,516 — down 2% vs. the previous week; down 8% in a month; down 27% in a year.

Total inventory: 1,097,755 — down 1% in a week; down 2% in a month; down 22% over 12 months.

Median list price: $338,760 — up 0.5% vs. the previous week; up 3% in a month; up 4% in a year.

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Southern California pending home sales rise 8th straight week, just 2% below 2019

Southern California house hunters put 5% more homes into escrow in the most recent week — the eighth consecutive weekly increase — as the buying pace runs 2% below a year ago.

My trusty spreadsheet’s compilation of Zillow’s weekly report on activity from brokers’ listing services in Los Angeles, Orange, Riverside and San Bernardino counties shows the local housing market rebounding from economic turmoil created by stay at home orders designed to slow a pandemic’s spread.

With 3,605 existing homes put into escrow in the week ended June 13, pending sales are up 172 in a week but down 78 in a year.

Options for house hunters remain slim. Southern California owners listed 4,452 homes for sale in the week — down 8.3% vs. the previous week and down 15.1% in a year. That put total inventory at 28,778 — up 0.2% vs. the previous week but down 26% in a year.

Fewer restrictions on businesses, including home sales, plus low mortgage rates are putting owners and house hunters in a selling mood. But even after a significant run-up of late, some slices of the market still trail year-ago levels.


STAFF GRAPHIC

How the data breaks down in Los Angeles and Orange counties …

New escrows: 1,974 contracts signed — up 7.6% in a week; up 34% in a month; down 10.9% over 12 months.

New listings: 2,793 over seven days — down 3.5% vs. the previous week; up 13.9% in a month; down 12.5% in a year.

Total inventory: 17,156 homes on the market — up 1.659% in a week; up 10.4% in a month; down 25.7% over 12 months.

Median list price: $890,800 — up 0.9% vs. the previous week; up 3.6% in a month; up 6.5% in a year.

In the Inland Empire …

New escrows: 1,631 — up 2.1% in a week; up 35% in a month; up 11.1% over 12 months.

New listings: 1,659 — down 15.3% vs. the previous week; up 7.4% in a month; down 19.1% in a year.

Total inventory: 11,622 — down 1.9% in a week; down 3.5% in a month; down 27% over 12 months.

Median list price: $435,826 — up 0.8% vs. the previous week; up 2.2% in a month; up 3.1% in a year.

Attention, real estate watchers: Sign up for The Home Stretch newsletter. It’s a free, three-times-a-week review of what’s important for housing around the region. Subscribe here!

Statewide …

New escrows: 8,112 — up 4.5% in a week; up 36% in a month; up 6.9% over 12 months.

New listings: 10,335 — down 11% vs. the previous week; up 11.3% in a month; down 20% in a year.

Total inventory: 51,293 — down 1.6% in a week; down 5.5% in a month; down 33% over 12 months.


STAFF GRAPHIC

Median list price: $661,241 — up 1.8% vs. the previous week; up 8.4% in a month; up 10.3% in a year.

Nationally …

New escrows: 85,778 — up 2.8% in a week; up 17.7% in a month; up 13.6% over 12 months.

New listings: 132,790 — down 3.8% vs. the previous week; up 13.9% in a month; down 16.6% in a year.

Total inventory: 1,120,998 — down 0.4% in a week; up 0.1% in a month; down 17.1% over 12 months.

Median list price: $332,680 — up 0.8% vs. the previous week; up 3% in a month; up 2.5% in a year.

Remember, pending sales must get through the escrow process. May’s data on closed sales from DQ News shows Southern California homebuyers bought about half as many homes in May as they did a year ago.

A total of 12,271 new and existing homes changed hands in the six-county region last month, the lowest number for a May and the third-lowest for any month in DQ News’ 32 years of tracking the market.

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Orange County homebuying jumps 6% as Southern California sales hit 7-year high

Orange County house hunters joined a regional buying spree in October.

Orange County home sales totaled 3,061 in the month — up 6% in a year CoreLogic/DQ News reported. The countywide median selling price was $725,000 — up 0.7% over 12 months.

In six Southern California counties, 20,761 homes sold — up 8.2% in a year. The regional median selling price was $535,000 — up 1.9% over 12 months. The last time SoCal buyers were more active in an October was 2012.

Here are five things you should know about key market niches in the Orange County market in October … 

1. Existing single-family houses: 1,881 sold, up 12.1% in a year. Median of $530,000 — a 0.7% rise over 12 months.

2. Existing condos: 820 sales, up 2.5% over 12 months. Median of $682,500 — a 1.9% fall in a year.

3. Newly built: Builders sold 360 new homes, down 12% in a year. Median of $1,083,000 — a 0.5% rise over 12 months.

4. Builder share: 11.8% of sales vs. 14.2% a year earlier.

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5. Rank: How pricing in Orange County ranked among Southern California’s six counties: No. 1 overall; No. 1 for single-family resales; No. 2 for condo resales; and No. 1 for new homes.

Elsewhere in Southern California …

Los Angeles County: 6,744 sold, up 5.6% over 12 months. Median of $620,000 — a 4.2% increase.

Riverside County: 3,650 sales, up 11.4%. Median? $395,000 — a 3.9% increase.

San Bernardino County: 2,816 sold, up 8.1%. Median? $350,000 — a 5.2% increase.

San Diego County: 3,485 sales, up 10%. Median? $573,500 — a 2.6% increase.

Ventura County: 1,005 sold, up 17%. Median? $580,000 — a 3% decline.

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Housing’s lousy 2018: Sales drop 7.5% in Lake Forest, Mission Viejo, Rancho Santa Margarita, San Juan Capistrano, Trabuco Canyon

Homebuying in inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano — fell 7.5 percent in a year with the steepest countywide drop in sales in 11 years.

Last year saw the fewest Orange County homes sold since 2014 and the 8.6 percent drop in sales vs. 2017 was the largest year-over-year percentage decline since 2007. Key culprits in the slowdown include higher mortgage rates; economic uncertainty; not to mention that homeowners seeking a new residences couldn’t unload their old home.

Here’s what my trusty spreadsheet told me when looking at house-hunting patterns at the neighborhood level in 2018 vs. 2017.

ICYMI: OC homes: More affordable than you think?

CoreLogic found these 14 trends in 8 ZIP codes covered by the Orange County Register’s Saddleback News weekly …

1. Purchases: Home sales in this period totaled 5,837 vs. 6,311 a year earlier, a decline of 7.5 percent.

2. Who’s up: Prices increased in all 8 ZIPs as sales rose in 3 ZIPs.

3. Countywide: $725,000 median selling price, up 5.8 percent. Orange County sales totaled 35,020 residences, existing and new, vs. 38,310 a year earlier, a decline of 8.6 percent. Prices rose in 75 out of 83 Orange County ZIPs and sales were up in 16 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Mission Viejo 92691: $680,000 median, up 1.6 percent. Price rank? 50th of 83. Sales of 631 vs. 725 a year earlier, a decline of 13.0 percent.

5. Mission Viejo 92692: $720,000 median, up 6.7 percent. Price rank? No. 38 of 83. Sales of 782 vs. 845 a year earlier, a decline of 7.5 percent.

6. Lake Forest 92630: $731,500 median, up 4.5 percent. Price rank? No. 37 of 83. Sales of 1071 vs. 1,214 a year earlier, a decline of 11.8 percent.

7. Foothill Ranch 92610: $770,000 median, up 9.4 percent. Price rank? No. 31 of 83. Sales of 224 vs. 204 a year earlier, a gain of 9.8 percent.

8. Rancho Santa Margarita 92688: $595,000 median, up 8.8 percent. Price rank? No. 64 of 83. Sales of 664 vs. 887 a year earlier, a decline of 25.1 percent.

9. Trabuco/Coto 92679: $990,000 median, up 16.5 percent. Price rank? No. 13 of 83. Sales of 582 vs. 703 a year earlier, a decline of 17.2 percent.

10. Ladera Ranch/Rancho Mission Viejo 92694: $740,000 median, up 3.9 percent. Price rank? No. 35 of 83. Sales of 1265 vs. 1,153 a year earlier, a gain of 9.7 percent.

11. San Juan Capistrano 92675: $834,000 median, up 6.8 percent. Price rank? No. 23 of 83. Sales of 618 vs. 580 a year earlier, a gain of 6.6 percent.

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Plus, three more countywide trends found in 2018 vs. 2017 …

12. Single-family-home resales: 20,934 Orange County sales vs. 23,022 a year earlier, a decline of 9.1 percent in the period. Median: $775,000 — a rise of 4.0 percent in the period.

13. Condo resales: 9,232 sales vs. 10,265 a year earlier, a decline of 10.1 percent in 12 months. Median: $505,000 — a rise of 6.3 percent in a year.

14. New homes: Builders sold 4,854 residences vs. 5,023 a year earlier, a decline of 3.4 percent in 12 months. Median: $942,000 — a rise of 11.0 percent in a year.

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Homebuying dips 3% in Lake Forest, Mission Viejo, Rancho Santa Margarita, San Juan Capistrano

Homebuying in inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano — fell 3 percent in May vs. a year earlier

May is traditionally a strong sales months for Orange County, as the prime spring selling season hits full stride. We decided to see how neighborhood housing markets fared.

ICYMI: O.C. housing’s rebound from the crash

CoreLogic found these 14 trends in 8 ZIP codes covered by the Orange County Register’s Saddleback News weekly, …

1. Purchases: Home sales in this period totaled 594 vs. 615 a year ago, a decline of 3.4 percent.

2. Who’s up: Prices increased in 8 of the 8 ZIPs as sales rose in 3 ZIPs.

3. Countywide: $738,500 median selling price, up 6.3 percent. Orange County sales totaled 3,519 residences, existing and new, vs. 3,666 a year ago, a decline of 4.0 percent. Prices rose in 57 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Mission Viejo 92691: $708,500 median, up 5.0 percent. Price rank? 45th of 83. Sales of 55 vs. 77 a year ago, a decline of 28.6 percent.

5. Mission Viejo 92692: $779,000 median, up 17.0 percent. Price rank? No. 33 of 83. Sales of 78 vs. 86 a year ago, a decline of 9.3 percent.

6. Lake Forest 92630: $685,000 median, up 0.7 percent. Price rank? No. 50 of 83. Sales of 104 vs. 117 a year ago, a decline of 11.1 percent.

7. Foothill Ranch 92610: $800,000 median, up 48.1 percent. Price rank? No. 28 of 83. Sales of 31 vs. 17 a year ago, a gain of 82.4 percent.

8. Rancho Santa Margarita 92688: $637,000 median, up 6.6 percent. Price rank? No. 60 of 83. Sales of 69 vs. 84 a year ago, a decline of 17.9 percent.

9. Trabuco/Coto 92679: $1,015,250 median, up 15.4 percent. Price rank? No. 13 of 83. Sales of 68 vs. 81 a year ago, a decline of 16 percent.

10. Ladera Ranch/Rancho Mission Viejo 92694: $779,000 median, up 10.1 percent. Price rank? No. 33 of 83. Sales of 133 vs. 98 a year ago, a gain of 35.7 percent.

11. San Juan Capistrano 92675: $1,050,000 median, up 33.2 percent. Price rank? No. 10 of 83. Sales of 56 vs. 55 a year ago, a gain of 1.8 percent.

Plus, three more countywide trends found in May vs. a year earlier …

12. Single-family-home resales: 2,169 Orange County sales vs. 2,335 a year ago, a decline of 7.1 percent in the period. Median: $800,000 — a rise of 5.7 percent in the period.

13. Condo resales: 933 sales vs. 965 a year ago, a decline of 3.3 percent in 12 months. Median: $502,000 — a rise of 1.9 percent in a year.

14. New homes: Builders sold 417 residences vs. 365 a year ago, a gain of 14.2 percent in a year. Median: $978,750 — a rise of 17.2 percent in a year.

Have you checked out Bubble Watch …

Bubble Watch: Are house hunters shying from newly built homes?

Bubble Watch: Is California’s anti-business vibe killing the state’s economy?

Bubble Watch: Home-equity loans back at pre-recession levels

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Homebuying dips 2% in Huntington Beach, Fountain Valley, Garden Grove, Westminster

Homebuying in what we’ll call the “Beach Blvd. Corridor” — in and around Huntington Beach, Fountain Valley, Garden Grove and Westminster — fell 2 percent in May vs. a year earlier

May is traditionally a strong sales months for Orange County, as the prime spring selling season hits full stride. We decided to see how neighborhood housing markets fared.

ICYMI: O.C. housing’s rebound from the crash

CoreLogic found these 19 trends in 13 ZIP codes covered by the Orange County Register’s The Wave weekly, …

1. Purchases: Home sales in this period totaled 440 vs. 448 a year ago, a decline of 2 percent.

2. Who’s up: Prices increased in 9 of the 13 ZIPs as sales rose in 5 ZIPs.

3. Countywide: $738,500 median selling price, up 6.3 percent. Orange County sales totaled 3,519 residences, existing and new, vs. 3,666 a year ago, a decline of 4 percent. Prices rose in 57 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Fountain Valley 92708: $776,250 median, up 10.9 percent. Price rank? 35th of 83. Sales of 40 vs. 41 a year ago, a decline of 2.4 percent.

5. Garden Grove 92840: $557,500 median, up 4.2 percent. Price rank? No. 69 of 83. Sales of 34 vs. 31 a year ago, a gain of 9.7 percent.

6. Garden Grove 92841: $620,000 median, up 10.7 percent. Price rank? No. 63 of 83. Sales of 20, flat in the period.

7. Garden Grove 92843: $542,500 median, up 30.1 percent. Price rank? No. 71 of 83. Sales of 21 vs. 19 a year ago, a gain of 10.5 percent.

8. Garden Grove 92844: $578,000 median, up 21.7 percent. Price rank? No. 67 of 83. Sales of 20 vs. 15 a year ago, a gain of 33.3 percent.

9. Garden Grove 92845: $648,500 median, up 0.9 percent. Price rank? No. 57 of 83. Sales of 14 vs. 16 a year ago, a decline of 12.5 percent.

10. Huntington Beach 92646: $750,000 median, up 24.0 percent. Price rank? No. 38 of 83. Sales of 91 vs. 77 a year ago, a gain of 18.2 percent.

11. Huntington Beach 92647: $750,000 median, up 15.2 percent. Price rank? No. 38 of 83. Sales of 25 vs. 43 a year ago, a decline of 41.9 percent.

12. Huntington Beach 92648: $952,500 median, down 20.6 percent. Price rank? No. 15 of 83. Sales of 59 vs. 55 a year ago, a gain of 7.3 percent.

13. Huntington Beach 92649: $742,500 median, down 13.1 percent. Price rank? No. 40 of 83. Sales of 43 vs. 50 a year ago, a decline of 14 percent.

14. Midway City 92655: $410,000 median, down 29.9 percent. Price rank? No. 79 of 83. Sales of 2 vs. 6 a year ago, a decline of 66.7 percent.

15. Stanton 90680: $408,750 median, down 0.3 percent. Price rank? No. 80 of 83. Sales of 19, flat in the period.

16. Westminster 92683: $627,500 median, up 2 percent. Price rank? No. 62 of 83. Sales of 52 vs. 56 a year ago, a decline of 7.1 percent.

Plus, three more countywide trends found in May vs. a year earlier …

17. Single-family-home resales: 2,169 Orange County sales vs. 2,335 a year ago, a decline of 7.1 percent in the period. Median: $800,000 — a rise of 5.7 percent in the period.

18. Condo resales: 933 sales vs. 965 a year ago, a decline of 3.3 percent in 12 months. Median: $502,000 — a rise of 1.9 percent in a year.

19. New homes: Builders sold 417 residences vs. 365 a year ago, a gain of 14.2 percent in a year. Median: $978,750 — a rise of 17.2 percent in a year.

Have you checked out Bubble Watch …

Bubble Watch: Are house hunters shying from newly built homes?

Bubble Watch: Is California’s anti-business vibe killing the state’s economy?

Bubble Watch: Home-equity loans back at pre-recession levels

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Orange County’s cheapest housing is in what Santa Ana ZIP code?

Even though Santa Ana is home to some of Orange County’s most-affordable housing, sales in the city fell 7 percent in May vs. a year earlier.

May is traditionally a strong sales months for Orange County, as the prime spring selling season hits full stride. We decided to see how neighborhood housing markets fared.

ICYMI: O.C. housing’s rebound from the crash

CoreLogic found these 12 trends in 6 ZIP codes covered by Santa Ana …

1. Purchases: Home sales in this period totaled 183 vs. 197 a year ago, a decline of 7.1 percent.

2. Who’s up: Prices increased in 5 of the 6 ZIPs as sales rose in 4 ZIPs.

3. Countywide: $738,500 median selling price, up 6.3 percent. Orange County sales totaled 3,519 residences, existing and new, vs. 3,666 a year ago, a decline of 4 percent. Prices rose in 57 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Santa Ana 92701: $284,500 median, down 18.7 percent. Price rank? Cheapest of 83 Orange County ZIPs. Sales of 20 vs. 27 a year ago, a decline of 25.9 percent.

5. Santa Ana 92703: $502,500 median, up 0.5 percent. Price rank? 75th of 83 Orange County ZIPs. Sales of 39 vs. 31 a year ago, up 25.8 percent.

6. Santa Ana 92704: $530,455 median, up 2.5 percent. Price rank? 72nd of 83 Orange County ZIPs. Sales of 36 vs. 43 a year ago, a decline of 16.3 percent.

7. Santa Ana 92705: $780,000 median, down 15.2 percent. Price rank? 32nd of 83 Orange County ZIPs. Sales of 38 vs. 47 a year ago, a decline of 19.1 percent.

8. Santa Ana 92706: $700,909 median, up 5.4 percent. Price rank? 46th of 83 Orange County ZIPs. Sales of 21 vs. 26 a year ago, a decline of 19.2 percent.

9. Santa Ana 92707: $350,000 median, down 23.9 percent. Price rank? 81st of 83 Orange County ZIPs. Sales of 29 vs. 23 a year ago, up 26.1 percent.

Plus, three more countywide trends found in May vs. a year earlier …

10. Single-family-home resales: 2,169 Orange County sales vs. 2,335 a year ago, a decline of 7.1 percent in the period. Median: $800,000 — a rise of 5.7 percent in the period.

11. Condo resales: 933 sales vs. 965 a year ago, a decline of 3.3 percent in 12 months. Median: $502,000 — a rise of 1.9 percent in a year.

12. New homes: Builders sold 417 residences vs. 365 a year ago, a gain of 14.2 percent in a year. Median: $978,750 — a rise of 17.2 percent in a year.

Have you checked out Bubble Watch …

Bubble Watch: Are house hunters shying from newly built homes?

Bubble Watch: Is California’s anti-business vibe killing the state’s economy?

Bubble Watch: Home-equity loans back at pre-recession levels

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Homebuying off 13% in Aliso Viejo, Dana Point, Laguna Niguel, San Clemente: 12 facts to know

Homebuying in Aliso Viejo, Dana Point, Laguna Niguel and San Clemente fell 13 percent in May vs. a year earlier.

May is traditionally a strong sales months for Orange County, as the prime spring selling season hits full stride. So we decided to see how neighborhood housing markets fared in this key period.

ICYMI: O.C. housing’s rebound from the crash

CoreLogic found these 12 trends in 6 ZIP codes covered by the southern edition of the Orange County Register’s The Current weekly …

1. Purchases: Home sales in this period totaled 338 vs. 387 a year ago, a decline of 13 percent.

2. Who’s up: Prices increased in 4 of the 6 ZIPs as sales rose in 3 ZIPs.

3. Countywide: $738,500 median selling price, up 6.3 percent. Orange County sales totaled 3,519 residences, existing and new, vs. 3,666 a year ago, a decline of 4.0 percent. Prices rose in 57 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Aliso Viejo 92656: $519,000 median, down 10.4 percent. Price rank in Orange County: No. 73 highest of 83. Sales of 69 vs. 104 a year ago, a decline of 33.7 percent.

5. Dana Point 92624: $1,050,000 median, up 43.8 percent. Price rank? No. 10 of 83. Sales of 13 vs. 6 a year ago, a gain of 116.7 percent.

6. Dana Point 92629: $949,000 median, up 6.9 percent. Price rank? No. 16 of 83. Sales of 46 vs. 40 a year ago, a gain of 15 percent.

7. Laguna Niguel 92677: $790,000 median, up 1.6 percent. Price rank? No. 29 of 83. Sales of 99 vs. 123 a year ago, a decline of 19.5 percent.

8. San Clemente 92672: $755,000 median, down 14.0 percent. Price rank? No. 36 of 83. Sales of 44 vs. 59 a year ago, a decline of 25.4 percent.

9. San Clemente 92673: $1,014,000 median, up 5.1 percent. Price rank? No. 14 of 83. Sales of 67 vs. 55 a year ago, a gain of 21.8 percent.

Let’s toss in three more countywide trends …

10. Single-family homes resales: 2,169 Orange County sales vs. 2,335 a year ago, a decline of 7.1 percent. Median: $800,000 — a rise of 5.7 percent in the timeframe.

11. Condo resales: 933 sales vs. 965 a year ago, a decline of 3.3 percent. Median: $502,000 — a rise of 1.9 percent in the period.

12. New homes: 417 sales vs. 365 a year ago, a gain of 14.2 percent. Median: $978,750 — a rise of 17.2 percent in the timeframe.

Have you checked out Bubble Watch …

Bubble Watch: Are house hunters shying from newly built homes?

Bubble Watch: Is California’s anti-business vibe killing the state’s economy?

Bubble Watch: Home-equity loans back at pre-recession levels

Read more about Homebuying off 13% in Aliso Viejo, Dana Point, Laguna Niguel, San Clemente: 12 facts to know This post was shared via Orange County Register’s RSS Feed

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Homebuying up 55% since the bubble burst in Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia, Yorba Linda

Homebuying in Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia and Yorba Linda rose 55 percent in a decade.

In the first quarter of 2008, housing’s bubble was bursting and it was just months before the global financial collapse that led to the Great Recession. This three-month period still stands as Orange County’s slowest-selling start to any year in CoreLogic’s database that dates to 1988.

ICYMI: O.C. housing’s rebound from the crash

We decided to see how neighborhood housing markets fared since, comparing homebuying’s start of 2008 vs. this year’s first three months.

CoreLogic found these 19 trends in 13 ZIP codes covered by the Orange County Register’s North County News weekly, …

1. Purchases: Home sales in this period totaled 984 vs. 634 a decade ago, a gain of 55.2 percent.

2. Who’s up: Prices increased in 12 of the 13 ZIPs as sales rose in 13 ZIPs.

3. Countywide: $710,000 median selling price, up 38.4 percent. Orange County sales totaled 7,800 residences, existing and new, vs. 4,419 a decade ago, a gain of 76.5 percent. Prices rose in 79 out of 83 Orange County ZIPs and sales were up in 76 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Brea 92821: $694,250 median, up 32.2 percent. Price rank? 44th of 83 Orange County ZIPs. Sales of 78 vs. 46 a decade ago, up 69.6 percent.

5. Brea 92823: $800,000 median, up 49.5 percent. Ranks 26th priciest of 83 ZIPs. Sales of 23 vs. 6 a decade ago, up 283.3 percent.

6. Buena Park 90620: $570,000 median, up 34.1 percent. Ranks 65th priciest of 83 ZIPs. Sales of 84 vs. 59 a decade ago, up 42.4 percent.

7. Buena Park 90621: $537,000 median, up 17.7 percent. Ranks 71st priciest of 83 ZIPs. Sales of 57 vs. 49 a decade ago, up 16.3 percent.

8. Fullerton 92831: $591,250 median, up 17.1 percent. Ranks 61st priciest of 83 ZIPs. Sales of 66 vs. 41 a decade ago, up 61 percent.

9. Fullerton 92832: $530,000 median, up 31.6 percent. Ranks 76th priciest of 83 ZIPs. Sales of 23 vs. 22 a decade ago, up 4.5 percent.

10. Fullerton 92833: $600,000 median, up 25.7 percent. Ranks 60th priciest of 83 ZIPs. Sales of 109 vs. 79 a decade ago, up 38 percent.

11. Fullerton 92835: $730,000 median, up 29.8 percent. Ranks 35th priciest of 83 ZIPs. Sales of 77 vs. 35 a decade ago, up 120 percent.

12. La Habra 90631: $546,000 median, up 35.1 percent. Ranks 69th priciest of 83 ZIPs. Sales of 129 vs. 81 a decade ago, up 59.3 percent.

13. La Palma 90623: $708,750 median, up 28.3 percent. Ranks 41st priciest of 83 ZIPs. Sales of 27 vs. 16 a decade ago, up 68.8 percent.

14. Placentia 92870: $645,750 median, up 22.0 percent. Ranks 56th priciest of 83 ZIPs. Sales of 104 vs. 62 a decade ago, up 67.7 percent.

15. Yorba Linda 92886: $772,500 median, down 9.1 percent. Ranks 29th priciest of 83 ZIPs. Sales of 152 vs. 100 a decade ago, up 52 percent.

16. Yorba Linda 92887: $893,000 median, up 31.3 percent. Ranks 19th priciest of 83 ZIPs. Sales of 55 vs. 38 a decade ago, up 44.7 percent.

Let’s toss in three more countywide trends …

17. Single-family homes resales: 4,614 Orange County sales vs. 2,853 a decade ago, a gain of 61.7 percent. Median: $760,000 — a rise of 32.2 percent.

18. Condo resales: 2,097 Orange County sales vs. 1,080 a decade ago, a gain of 94.2 percent. Median: $495,000 — a rise of 32 percent.

19. New homes: 1,089 Orange County sales vs. 487 a decade ago, a gain of 123.6 percent. Median: $873,000 — a rise of 63.8 percent.

Read more about Homebuying up 55% since the bubble burst in Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia, Yorba Linda This post was shared via Orange County Register’s RSS Feed

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