Overall, the number of homes sold during the last quarter of 2016 and first quarter of 2017 were very low. We think the major factors behind this included:
- Uncertainty caused by the election
- Interest rate hikes
- The general holiday period
Although sales were lower then, the Spring market is in full swing now. In December of 2017, there were about 1,500 pending sales here in the Orange County area, while today, there are about 3,000 pending sales. This year has had a more dramatic swing in sales and overall closings but things are back on track with new sales skyrocketing in the last couple months. This should continue through the end of the year as interest rates and overall market stability looks strong.
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