“O.C. HOME MARKET CATCHING FIRE”

Jonathan Lasner of the O.C. Register quotes thoughts from Steve Thomas, who tracks O.C. housing inventory and listings and whose latest report including data up to March 15,  ”Homes are flying off the market. Further, the housing inventory is running on empty; the foreclosure and short sale distressed inventory is at a low not seen since they started flooding the market in 2007; and, the last time demand was this hot in the month of March, it was the tail end of the housing bubble, 2005.” Thomas goes on the say, “Surprisingly, the distressed inventory continued to plummet. In Orange County, the active distress inventory, both short sales and foreclosures combined, is at its lowest point since September 2007.”

 

For more details, check the article in Sunday March 25, 2012 Real Estate section of O.C. Register

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