Signs are pointing to Housing Growth in Orange County
|Interest rates should remain steady & holding close to what has been seen over the past month. And these rates down 32 basis points from 4.46% just a year ago. When Rates are down sales go up. 8.6% Increase in sales for Orange County from April to May. In fact, National Association of Realtors (NAR) chief economist Lawrence Yun views May’s increase as a solid sign for improving home sales in the second half of the year saying that, with low mortgage rates, more inventory and improved job creation.
We should be entering into a Prime Real Estate Market. More homes (with supply and demand) will mean more sales, prices should be more negotiable but still increasing on a positive note and first time buyers as well as home sellers moving up and downsizing will all benefit from this time of the year.