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Even though it is the hottest time of the year, the Spring Market, trends have emerged that confirm that the Orange County housing market is rapidly cooling. What we're seeing: → Big changes in the market → March was one of the slowest we've seen in recent years. → The economy has affected demand for the real estate market → Holding off on purchases → Interest rates went up → Higher interest rates stopped people from going on the market → More inventory this year than last → Demand has changed → Homes going under contract starting to slow → Days on market has gone up → Sellers need to list aggressively or expect homes to take longer than normal to sell → New shift for both agents and sellers What we can expect: → Inventory will continue to rise going into summer → Demand will determine on interest rates → Next couple of months will be slower → We'll be in a steady, slow pace market until the uncertainty in business markets stabilize To view the complete Report and Charts, join our free Housing Report email list: https://bit.ly/housingreportsignup Doug Echelberger | DRE 01176379 Inhabit Real Estate #RealEstate #OrangeCounty #HousingMarket #HousingReport #MarketReport SUBSCRIBE to the Echelberger Group YouTube channel: https://bit.ly/3iKwDl9 Search Luxury Homes for Sale in Orange County near San Clemente, California: www.echelberger.com/properties/sale Follow @EchelbergerGroup Blog: echelberger.com/category/blog Instagram: instagram.com/echelbergergroup/ Facebook: facebook.com/EchelbergerGroup Linkedin: https://bit.ly/3Q1RUG3