Summer may be halfway over already but the Orange County real estate market is still heating up. Home sales are rising across the country and here in the western states sales of new homes are twice the national average[1]. Local home prices may be lower than they were several years ago, but that is already beginning to turn around. In Orange County, the median home price is currently 14% higher than the bottom hit in January of this year[2]. Furthermore, while real estate sales are significantly up from a year ago, the percentage of sales made up of distressed properties is steadily decreasing month to month[3].

All of these indicators suggest that our local real estate market is well on the road to recovery. The Case-Shiller home price index predicts that property values in California will rise more than 5% during 2010, compared to a national average of 2%[4]. If the market continues its pace, by this time next year California will have the fastest growing real estate industry in the country. As home to some of the state’s most desirable communities, Orange County is sure to be leading the way as home sales rebound.

Now may be the best time to buy, before prices continue to rise and inventories diminishing. Don’t let opportunity pass you by. Visit www.OCViewOnline.com today and find your next home. A Coldwell Banker real estate professional will be happy to help you find the perfect place to call your own. Contact your local Coldwell Banker Orange County office today and find out what we can do to make your dreams come true.

This entry was posted on Saturday, August 1st, 2009 at 6:00 am and is filed under Charity, Community Events, Market Analysis, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.