FSBO, Arizona

Orange County Real Estate News.. A combination of high home prices and eroding affordability is expected to cut into housing demand and contribute to a we...aker housing market in 2019, and 2019 home sales will register lower for the first time in four years, according to a housing and economic forecast released today by the CALIFORNIA ASSOCIATION OF REALTORS’ (C.A.R.). Experts are predicting a modest decline in existing single-family home sales of 3.3 percent. The average for 30-year, fixed mortgage interest rates will rise to 5.2 percent in 2019, up from 4.7 percent in 2018 and 4.0 percent in 2017, but will still remain low by historical standards. The California median home price is forecast to increase 3.1 percent to $593,450 in 2019, following a projected 7.0 percent increase in 2018 to $575,800. Outmigration, which is a result of the state’s housing affordability issue, will also be a primary concern for the California housing market in 2019 as interest rates are expected to rise further this year. The high housing cost is driving Californians to leave their current county and even the state. Orange County has been home to some of the hottest housing markets in the country over the last five years. Orange County home prices had finally been pushed beyond people’s capacity to pay. First, homes started lingering on the market longer, average time on market last Year same time was 30 days currently it is 57 days. Then the number of homes on the market started spiking slightly. Throw in an increase in the number of price concessions, and it looked more and more like price drops are next. Currently Attached Homes (condos, Townhomes) have a price drop from same time last year of 2.7%. It may take a few months for single family residents to drop but they are also predicted to drop about 2.5 % in the next 6-8 months. Making this right now a great time to sell. No one can actually predict the exact market but we can get a pretty good overall picture. If you or anyone you know is looking to purchase or sell a home, please have them contact us here at Kellogg’s Realty Group. Ken Kellogg, Broker ,Kellogg Realty Group 714-863-1955

Great class taught by great talented guy DY

Pearl Performing Team

Great time to sell the Arizona Market is hot!!!!!