Orange County is seeing its best housing market since the final days of the housing boom in 2005, with the number of homes for sale at their lowest level in nearly seven years and the number of sales contracts in progress at their second-highest level in that period.
The “market time” or the time it would take to sell all 6,615 listings at the current sales pace, fell to 52 days. That’s the shortest market time since August 2005
As this scenario drags on, it will only be a matter of time before prices start to really rise again.
If you are a buyer stepping into the market, it feels like 2004 and 2005