Market updates

**California's housing market is showing signs of a rebound.** After a period of slowed growth, sales of single-family homes rose in April 2024. The median home price in California also reached a new high of $904,210. This increase in price was driven in part by a surge…

Surging Pending Sales, Falling Rates: Despite a slight dip in existing-home sales, the market is on the upswing. With pending sales jumping 8.3% and mortgage rates declining, buyers are reemerging. NAR predicts a 13% surge in sales this year.

Current homeowners, many of whom locked in mortgage rates several percentage points below today’s current rates, are delaying the decision to sell until market conditions improve. With only 2.9 months’ supply heading into May, available homes are moving fast, with the…

Across the country, consumers are feeling the bite of inflation and surging mortgage interest rates, which recently hit 4.6% in March, according to Freddie Mac, rising 1.4 percent since January and the highest rate in more than 3 years.

As we progressed through February, the actual and expected impacts of COVID-19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering a bad news-good news…

For all of Newport Beach, the median sales price of detached homes year-to-date was $2,090,000, down 7.7% from the same month last year. In comparing April 2019 to April 2018, the market activity has softened, with pending home sales of detached homes down 35.3%, and…

For Orange County, New Listings were down 4.4 percent for detached homes and 2.8 percent for attached properties. Pending Sales decreased 34.5 percent for detached homes and 30.7 percent for attached properties. The Median Sales Price was up 0.2 percent to $832,000 for…

According to the Federal Reserve Board, the median net worth of the average homeowner in the United States was $231,400, compared to $5,200 for the average renter. Housing was the largest source of wealth for homeowners’ net worth, with the average net housing wealth at…

* 71% of younger millennials (1990-1998) said convenience to job influenced neighborhood choice. * 81% of older millennials (1980-1989) found their home with a mobile app * 24% of recent home buyers were gen X (1965-1979) * 35% of younger boomers (1955-1964) said heating…

Here are the most recent residential real estate market update reports for Costa Mesa and each of the Multiple Listing Service (MLS) defined sub areas. For all of Costa Mesa, the median sales price of detached homes year-to-date was...

Here are the most recent residential real estate market update reports for Newport Beach and each of the Multiple Listing Service (MLS) defined sub areas. For all of Newport Beach, the median sales price of detached homes year-to-date was...

For Orange County, New Listings were up 8.6 percent for detached homes and 12.2 percent for attached properties. Pending Sales decreased 46.4 percent for detached homes and 54.5 percent for attached properties. The Median Sales Price was up 4.1 percent to $833,000 for…