California's slowing housing market has spread to Orange County, The Orange County Register reports:
Homebuying in Orange County has cooled this autumn with the pace of purchasing down while the supply of homes on the market rises.
Looking at CoreLogic’s report on closed sales as of October and ReportsOnHousing’s data on existing-home listings data as of Nov. 29, here are 10 trends to ponder:
1. Countywide sales of all residences: 2,890 closed purchases — down 7 percent in a year compared with the six-county region where sales fell 7.5 percent. The countywide median selling price was $720,000 — up 3.9 percent in 12 months vs. Southern California pricing rising 6.1 percent.
2. New homes: 408 sold, down 2.4 percent vs. regionally where sales fell 0.5 percent. Median sales price? $1,077,500 — up 20.8 percent in 12 months vs. Southern California pricing rising 5.9 percent.