Preview Orange County Real Estate Blog - Orange County Real Estate

What Happens to Housing When There is a Recession?

Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 CEO Outlook from KPMG says: 

“Global CEOs see a ‘mild and short’ recession, yet optimistic about global economy over 3-year horizon . . . 

More than 8 out of 10 anticipate a recession over the next 12 months, with more than half expecting it to be mild and short.” 

To add to that sentiment, housing is typically one of the first sectors to rebound during a slowdown. As Ali Wolf, Chief Economist…

481 Views, 0 Comments

3 Questions You May Be Asking About Selling Your House Today [Infographic]

• If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale.
• You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home?
• Connect with us at The Aaronson Group so you can get answers to these questions and learn about the opportunities you still have in today’s housing market. Contact 949-388-5194 or email: info@previewochomes.com

613 Views, 0 Comments

What's Ahead for Home Prices?

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? 

While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today. 

What the Experts Are Saying About Home Prices Next Year 

The graph below shows the most up-to-date forecasts from five…

488 Views, 0 Comments

The Latest on Supply and Demand in Housing

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. 

The graph below helps tell the story of just how different things are today. 

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market. This slowdown in demand is clear when you look at the red bar on the graph. It uses the latest data from Showing Time to illustrate how showings (an indicator of buyer demand) have softened by just over 12% compared to the same time last year. 

Now for a look at how housing supply has…

446 Views, 0 Comments

Perspective Matters When Selling Your House Today

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown. 

Fewer Homes for Sale than Pre-Pandemic 

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market.  A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below): 

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll…

513 Views, 0 Comments

Just Listed-Panoramic Ocean View Luxury Property in Highly Desirable Ritz Cove Community in Dana Point

Prominently Positioned On The 2nd Row In The Highly Desirable Guard Gated Community Of Ritz Cove Offering Panoramic Ocean & Sunset Views. This Dramatic Light & Bright Open Floorplan Features Voluminous Ceilings, Modern Lines, & Expansive Living Spaces Integrating The Outdoor Living Environment With Ocean Views Beyond. Sophisticated In Design With Exquisite Marble Flooring & Designer Touches Complemented By A Sought-After Main Floor Primary Suite Featuring A Spa-Like Bath and 3 Additional Spacious Bedrooms Up A Short Flight Of Stairs. The Highly Upgraded Chef’s Caliber Kitchen Boasts An Oversized Island & Breakfast Bar, Nook Area, & Al Fresco Patio Dining Through Sliding Doors. Additional Highlights Include A Bonus/Game/Potential Theatre Room, New…

1022 Views, 0 Comments

What Are Experts Saying About the Falling Housing Market

The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have questions about what your best move is if you’re thinking of buying or selling this fall. 

To help you make a confident decision, contact us at The Aaronson Group. Here are a few things experts are saying about the fall housing market. 

Expert Quotes for Fall Homebuyers 

A recent article from realtor.com: 

“This fall, a more moderate pace of home selling, more listings to choose from, and softening price growth will provide some breathing room for buyers searching for a home during what is typically the best time to buy a home.” 

Michael Lane, VP and General…

714 Views, 0 Comments

What the Experts are Saying About Home Prices Next Year

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it will last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value. 

Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major forecasters noted below is 2.5%. While one, Zelman & Associates, is calling for depreciation, the other five are calling for appreciation. The…

642 Views, 0 Comments

Will My House Sell in Today's Market?

If recent headlines about the housing market have you worried you’ve missed your chance to sell, here’s what you need to know. Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years. 

Buyer demand then and now 

During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from Showing Time  confirms this trend (see graph below): 

The orange bars in the graph above represent the last few months of data and the cool down in the volume of home showings the market has seen since mortgage…

986 Views, 0 Comments

The Ability to Negotiate is Back for Home Buyers!

If you’re thinking about buying a home today, there is welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close. 

Today, you should have less competition and more negotiating power as a buyer. That’s because the intensity of buyer demand and bidding wars is easing this year. So, if bidding wars were the biggest factor that had you sitting on the sidelines, here are two trends that may be just what you need to re-enter the market. 

1. The Return of Contingencies 

Over the last two years, more buyers were…

769 Views, 0 Comments