Home Prices
Resale Homes +5.6, Resale Condos +2.5 and New Home Sales +11.9
All totaled, OC home values are up 3.9 versus last year
Sales Volume
Resale Homes +14.7, Resale Condos +14.5 and New Home Sales -21.4
All totaled, OC sales volume is up 10.7 versus last year
Interest Rates
30 year fixed Mortgage rate is currently 3.98, down slightly versus one week ago
15 year fixed rate is 3.17, down slightly versus one week ago
Average Home Payment is $2,536.21 down from $2,725.14 a year ago
ARM’s represent 15.4 of all mortgages, down from 19.6 versus last year
The 10 year ARM’s seems to be the hot lender product of choice
Nationwide, 10.1 of mortgage homes are underwater
Only 3 of OC mortgaged homes are underwater
Interest only mortgages are back, but with caution
Facts
Median OC home price is $620,000 up from $597,000 a year ago
Median OC home sales are only 3.8 off 2007 peak of $645,000
Home sales volume is up at 3,503 versus 3,165 versus one year ago
Inventory is up 6,935 up from 6,534 just one month ago
$1,000,000 plus homes represent 33.6 of all OC listings
Average Days on Market 2.47 months (74 days)
Median price per square foot is $376.45, 4.9 higher versus last year
OC Real Estate employs 1 out of every 7 workers
OC Median household income is $75,400
Trends
Short Sales/Foreclosures; 190, down from 211 versus two weeks ago
Home ownership nationwide at its lowest point in 19 years (63.4)
Home ownership in LA/OC at 48.5 thru 2nd Quarter 2015
Highest price increase; Newport Coast, 92657, +71.1 versus last year
2nd Highest price increase; Santa Ana, 92701, +48.8, versus last year
3rd Highest price increase; Irvine, 92602, +43.3, versus last year
New home pricing and volume have shown continued growth