I know we are all looking for information the we can trust that will be positive, like Orange County Condos sales are 13.6% faster than a year ago. It is true. Sales are up. The prices have made a big adjustment down but the condo market is selling quickly.
It shows that the condo market in June was the bigest since June 2006. The federal tax credit has helped the market and it helps the condo more than the single family home sale. But look we have a market improvement.
The single family residences are also up 10.3 percent vs a year ago. Laguna Beach is going up at a rate of 16 percent in the same year. As prices get affordable in all areas the top beach areas will sell fast, as we are seeing in the data. The median price in Laguna Beach is down 29 percent in one year.
So if you are looking for some good news it is that deals are out there and the market knows it. People are buying because prices are low and the interest rates are real good. So it is not just that Orange County condo sales are 13% faster this year, but the whole market is moving well.
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