We had a hot May in Orange County, for real estate that is. With extremely low interest rates, and an affordability index that is higher than in recent years, prices are up from a year ago. Sales of single family residences are also up 23% from a year ago. It’s getting hot in here!
It seems that buyers flocked to resale properties as opposed to new construction. Condo sales were hot as well, up 24 percent versus 2011. Other good news is sales gains were countywide in all four geographic regions. Also, the rest of Southern California is up 21% from a year ago as well.
Orange County is on the upswing and nursing itself back to health with low interest rates and an improving economy. So what does this mean for you? Seems like it’s time for you to jump in. But don’t worry, I’ll catch you!