ORANGE COUNTY HOME SALES UP

Dataquick reports that in the first quarter, 6,632 homes sold in Orange Country – up 3 percent from a year ago and the best buying pace to start a year since 2007. This confirms the view from the street – we see the return of intense multiple offer situations, especially in the first-time buyer range. Buyers often make offers on 3-9 properties before successfully capturing a new home. Prices remain fairly steady, in line with the current loan environment – more stringent qualification of both property and buyer, to meet independent audit of files.
According to A. Lazo of the L.A. Times, “In Southern California, the median home price of $280,000 was flat, down just 0.2% from March 2011, and a 5.8% increase from February. Sales improved most in Orange, Ventura and San Diego counties.”

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