Some good news - OC numbers showing sign of life

Word is out that of every 100 homes on the market in Orange County, 42 are in foreclosure or short sale.

That's the bad news. The good news is, OC's real estate supply vs. demand ratio has improved by 68%. To put it in real number terms, if you had put your house on the market last year, your real estate agent might have told you to expect it to stay on the market for 15 months. Today, however, you can expect a market-time of 4.8 months. That's a big difference!

As we like to say, even if things aren't necessarily moving fast, and some things are moving in the wrong direction, at least they're moving. In this case, the market time stats are an improvement, so we'll take the good news as a reason to smile for the rest of the afternoon.

Anyone else have any good news?

Cyara Pott - Market Specialist