Homes “selling” and going into escrow are at the highest point I’ve ever measure, going back to 2006. The number of homes in Escrow in South Orange County is up every week since the beginning of the year (up 84% ytd), up 49% above 2008 levels and up 78% over 2007 levels.
The interest rates available combined with the recent price reductions (more on that tomorrow) have made for some great deals. Investors, first time buyers, relocation buyers, and move up buyers are taking advantage of this combination in record numbers.
Short Sales account for 51% of our escrows, a slight increase from recent months. Foreclosures (REO’s) account for 16% of our escrows (down from 25% a couple months ago).
Check out Orange County Real Estate trends with the links below. The charts will show you number of homes for sale (Inventory), Escrow, Unit Sales & Pricing Trends. Feel free to check out near-by cities on the other BLOG posts as well.
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To Search All Homes On The Market Simply Click Below
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