The Orange County (Calif.) Register staffer Jonathan Lansner reports on a significant drop in the number of area homes listed for sale.
He writes that inventory in the broker listings network was down 10% in a month and down 9% in a year. The supply hasn’t been this low since mid-May. Lansner writes:
The thin inventory contrasts with a recent boost in buying that may have been spurred by fears of higher mortgage rates in 2016. Shoppers’ demand, as measured by new escrows opened in the past 30 days, was 2,447 as of Thursday. That’s up 114, or 5%, in a month and up 10% in a year.