The Orange County Real Estate Market is moving like a freight train right now as homes are selling quickly. There is an ever-increasing supply of buyers who want to buy homes, and the speed of the Real Estate market has driven up home prices over the last 90 days. But the real question that should be asked is what is the real cause for home prices going up?
The Law Of Supply And Demand
As we’ve educated you in recent posts about supply and demand, the same thing applies to the Orange County Real Estate Market.
When there is low supply of inventory, and a high demand for a product, the owner or manufacturer can charge the price that they want to sell their product or home for.
The same rule also applies to a bad economy or weak Real Estate market, if there are fewer buyers on the market for a product or home, the owner of the home or manufacturer of the product will many times lower their asking price to attract a larger pool of qualified buyer than they would during a good economy.
Work With A Great Time
Homeowners in Orange County who are planning on selling their homes should make sure that they work with a qualified Orange County Listing Agent who has verifiable market experience when it comes to buying and selling homes in Orange County.
Homebuyers must also work with a qualified Real Estate Agent as well who has experience with helping their clients buy homes in Orange County, especially recently as homebuyers have had to submit multiple offers on homes and in many cases have had to be ready for a prolonged home search.
To learn more tips on what to expect during the current Orange County Real Estate market or to view the latest Best OC Properties, contact Fred Sed & Associates today at (949) 272-0125.