«Less than 2
months of active inventory and mortgage interest rates under 5 % percent, will keep this a fiercely competitive price range through summer» says Shea.
Given the current rate of sales, and the
size of the active inventory, the resulting Months Supply is 6.6 months, a drop from the 7.3 month supply seen in January, and significantly lower than the 9.3 month supply reported in February 2011.
Currently, short sales and foreclosures in Orange County account for 12 %
of the active inventory and 15 % of all escrows opened within the prior month.
(25 %
of active inventory)
(This range represents 18 %
of the active inventory and 22 % of demand).
For homes priced below $ 750,000, the market is hot with an expected market time of just 31 days — and this range represents 37 %
of the active inventory and 64 % of demand.
(This range represents 45 %
of active inventory and 67 % of demand).
For homes priced below $ 750,000, the market is still hot with an expected market time of 41 days (This range represents 38 %
of the active inventory and 62 % of demand).
Distressed sales make up 24 %
of active inventory, and 38.6 % of sales in the first quarter.
This range represents 17 %
of the active inventory and 21 % of demand.
Short sales make up 15.7 %
of active inventory, and accounted for 10.2 % of the sales in the first quarter.