Drought Declared Over in the OC
According to Gary Robbins, of The Register, federal climatologists have declared that Orange County's Drought is officially OVER. Out of all the coastal counties in Southern California, we, here in the OC, were the last to be removed from any drought categories on the list of the U.S. Drought Monitor.
What does this have to do with real estate? Well, lately when it rains here, it pours and the inventory of homes on the market has followed suit although Orange County is still the "driest" county in all of Southern California. Here are the current absorption rates for Coastal Orange County Single Family Home & Condo Inventory along with a county by county comparison based on the last 12 months of activity.
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- Orange County - 11.6
- Los Angeles County - 13.3
- Riverside County - 21.2
- San Bernadino County - 21.7
- San Diego County - 12.2
- Desert Areas - 21.3
Now for a breakdown of the absorption rate Coastal City by Coastal City:
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Corona del Mar - 11.8
- Newport Beach - 13.2
- Newport Coast - 13.2
- Laguna Beach - 16.6
- Dana Point - 13.8
- San Clemente - 11.9
- San Juan Capistrano - 15.5
- Huntington Beach - 8.0
- Seal Beach - 8.2
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For more detailed information about the market activity in your neighborhood, or the neighborhood you are looking to make a move to, throughout Orange County, call Sandra Carlisle at (949) 500-0482.
*All reports/data presented are based on data supplied by the MRMLS, Orange county, Orange Coast, Pacific West, Downey, Rancho SE AOR, Laguna BOR and Desert AOR or their MLS's. Neither the Associations nor their MLS's guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLS's may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. Market Trends data courtesy of Bankers Funding Company, LLC an Affiliate of Wells Fargo Home Mortgage.
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