2014 Orange County Real Estate Market "Year in Review"
"Just the facts, ma'am"
Let’s take a look back at what happened in 2014 in terms of the inventory, demand, expected market time, and distressed properties
- 2014 will be known as the year of the overpriced home. As a result, 10% of the active listing inventory reduced their asking price every week.
- Overall, demand in 2014 was off by 10% year over year. The market followed a normal housing cycle with the strongest demand during the Spring Market, followed by slightly less demand during the Summer Market, and finally much less demand during the Autumn and Holiday Markets. Demand would have been much higher during each of the seasons if sellers were much more realistic in their pricing, but that just was not the case in 2014. more...
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