March 29, 2024
Orange County leads predicted housing recovery
ALISO VIEJO--Orange County may be the first in Southern California to break out of the housing slump.

Demand for O.C. homes is now at its fastest pace in more than two years as measured by new deals placed into escrow for existing homes and condos. Demand is at a 46% improvement above a year ago and 4% above this time in 2006.

The most rational reason for the improvement is pent-up demand, specifically, pent-up first-time home buyer demand.

The numbers suggests the O.C. homebuying losing streak, dating to October 2005, will end soon.

California Association of Realtors stats for April also show a dramatic improvement in the O.C. home-buying supply situation the rest of the year. (Source: Orange County Register)
Story Date: June 8, 2008
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