Inventory is dropping!

After dropping to just below 2,900 new pending sales, demand stabilized for the first time in the past several weeks. Listing inventory continued to drop though, and will probably drop below 10,000 homes by next week.  We haven’t seen the inventory this low since January 2011 (normally a slow time of year for Real Estate).  If it drops by 200 additional homes (very possible) , the inventory will be at levels not seen since May of 2010.  That is a healthy step for the Orange County housing market.  There’s a lot being said about the new record lows in interest rates, so it is time for the public to understand: THESE RATES WILL NOT LAST.  In years down the road we will all look back at today’s rates and many will be saying, “I should have bought more Real Estate!”

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