Orange County missing 1-in-10 home sellers

Orange County house hunters have 10 percent fewer options as the homebuying season begins.

ReportsOnHousing tracks homebuying patterns found in real estate broker networks: supply (active listings); demand (new escrows in past 30 days); and “market time” (a measure of selling speed of days it takes a typical listing to enter escrow).

The “spring” home shopping season quasi-starts right after the Super Bowl. As of Feb. 8, ReportsOnHousing found 3,981 listings in Orange County, down 10 percent in a year and down 15 percent vs. the 2013-17 average. Demand was 2,286 new escrows, down 5 percent in a year and down 10 percent vs. 2013-17 average.That adds up to a market time of 52 days vs. 56 a year earlier vs. an average 57 days in 2013-2017.

ReportsOnHousing found similar patterns in the four-county region — Los Angeles, Orange, Riverside and San Bernardino counties: 25,199 listings, down 9 percent in a year and down 14 percent vs. 2013-17 average;. 11,790 new escrows — was down 3 percent in a year and down 5 percent vs. ’13-17 average; market time of 64 days vs. 68 a year earlier and an average 71 days in 2013-2017.

Elsewhere in the region …

In Los Angeles County …

Supply: 9,182 listings, down 8 percent in a year and down 14 percent vs. 2013-17 average.

Demand: 4,932 new escrows, down -4 percent in a year and down 7 percent vs. ’13-17.

Market time: 56 days vs. 58 a year earlier and an average 61 days vs. ’13-17.

In Riverside County …

Supply: 7,951 listings, down 12 percent in a year, and down 14 percent vs. ’13-17.

Demand: 2,626 new escrows, down 4 percent in a year, and down 6 percent vs. ’13-17.

Market time: 91 days vs. 100 a year earlier and an average 101 days in ’13-17.

In San Bernardino County …

Supply: 4,085 listings, down 4 percent in a year and down 10 percent vs. ’13-17.

Demand: 1,946 new escrows, up 3 percent in a year and up 6 percent vs. ’13-17.

Market time: 63 days vs. 67 a year earlier and an average 75 days in ’13-17.

In case you missed it …

Los Angeles-Orange County homeownership at 9-year high, but 4th lowest in U.S.

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Southern California’s job growth only boosts its unaffordability

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