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O.C. Homebuilder Sales Soar 57% from a Year Ago

July 28th, 2016

Orange County, California, is seeing a nearly exponential boom in the housing market, as new homebuilder sales have climbed 57% from last year, according to a study released by CoreLogic. These numbers are staggering, and they prove just how in-demand a piece of Orange County real estate is in the modern market.

Between 1998 and 2007, before the housing bubble popped and the entire nation faced an economic recession, the new home market in Orange County was very strong. Since then, it has gone through many phases of brokenness and healing, but most recently the numbers are showing that a return to a pre-recession economy is not only imminent, but already taking place. The time period between February 25 and March 22, for example, saw builders drawing in 12.5% of sales, a figure very reminiscent of the pre-recession years.

This period of time also saw builders sell 363 new homes, with the median price for all Orange County residences resting around $615,000, a figure up 5.1% from the previous year. While the housing market is improving all over the country, the Orange County market is growing at a much faster rate than the national average, which is seeing about 11.2% growth compared to Orange County’s 57.1%.

What is significant to note here is that these figures do not just represent home sales in Orange County, but specifically new home sales. Though all real estate in the area is seeing a major boost, the fact that so much of this boost is coming from new development means that people aren’t just moving into Orange County, but they’re not moving out. The communities are expanding as more and more people bring their business to Orange County, and the economy is rising with this migration.

For more information on the Orange County housing market and the recent uptick in homebuilder sales, visit the Orange County Register at: http://www.ocregister.com/articles/year-711648-percent-ago.html.

Orange County is proving itself to be one of the best places in the country for new homeowners. Sales like these don’t happen arbitrarily; people are buying real estate in Orange County because they know that it is one of the best places to live an active, modern life, and that an Orange County home is a sound investment. If you’re for a home in the heart of Orange County, with convenient access to everything it has to offer, look no further than Pacific Walk, one of Olson Homes’ newest communities. Floor plans and more information available at: http://pacificwalktownhomes.com/.