The current state of Orange County’s housing market: Facts and Implications

The Orange County housing market is experiencing a unique set of circumstances that have caused a severe inventory shortage, with record-low levels of available homes. This shortage, combined with a decrease in new sellers and the impact of mortgage rates, has made the market highly competitive and fast-paced. As the economy cools, mortgage rates may drop and potentially boost buyer demand; however, until the inventory increases to pre-pandemic levels, buyers will continue to face challenges.