Buyer Demand for Housing is Rising in Orange County CA

Dated: 05/13/2020

Views: 59

Rising Demand: Demand rose 9% even though “stay at home” orders have not yet been lifted After seven weeks of staying at home, everybody is figuring out ways to make life feel a bit more normal again. DoorDash is on the go delivering food from local favorite restaurants. Church service is now streaming live with the ability to hit pause if the two-year old is acting up. With Zoom meetings all week long, working from home in t-shirts and shorts is not a bad way to get a lot accomplished. The kids are busy cyber learning in their online classrooms. Everybody is adapting to a new way of life. Buyers are adapting as well and are looking for homes again, the market is waking up. After reaching a low two weeks ago, Orange County had dropped to inherent, natural demand last seen during the start to the Great Recession. Yet, in the past couple of weeks a change was afoot. Reports from the real estate trenches of increased showings and buyers writing offers again were repeated all over the county. Buyers are figuring out that they can still purchase a home in the middle of California’s “stay at home” order. The real estate industry has adapted to selling homes in this new COVID-19 environment. Buyers view properties wearing protective face masks and disposable, rubber gloves while respecting proper social distancing protocol. Everything else is done electronically, from a list of properties to a comparable market analysis to real estate contracts that grant buyers permission to view and purchase properties. As a result, it is not surprising that demand (the number of pending sales over the prior 30-days) increased by 9% in the past two weeks, growing from 1,080 to 1,172 pending sales.

Blog author image

Arna Freedman - DRE#00925320

Looking for a Pro? Someone who will listen, negotiate and get the home you are looking for with the least amount of stress? I have been successfully working for buyers and sellers in Orange County for....

Latest Blog Posts

REAL ESTATE EXPERT OPTIONS ABOUT 2ND HALF OF 2020

What Are Experts Saying About the Rest of 2020?One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the

Read More

Are Home Prices Going Up or Down in 2020

What Are the Experts Saying About Future Home Prices?A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made

Read More

Are You A Millennial on the Move

Millennials Are on the Move as First-Time Homebuyers [INFOGRAPHIC]Some Highlights:According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time

Read More