Orange County Housing Market

Orange County's housing market is experiencing a slower rise in prices, with the median sales price of existing single-family homes hitting $1.4 million in March 2024. Despite a year-over-year decrease, sales volume has grown compared to the previous month. Experts have differing views on the market's trajectory for 2024, citing factors like mortgage rates and inventory levels. The county's diverse amenities contribute to its appeal. However, higher mortgage rates may reduce demand and prices, impacting buyers' purchasing power and market competition.