The Orange County Register posted a blog listing the findings of distressed sales in the Orange County housing market.
The lower ranges may have hit a bottom in terms of value, but there are still a ton of distressed homes that are keeping a lid on real appreciation. With the direction of the economy still in flux and plenty of homeowners in distress, buyers are carefully approaching the market. 50% of all current active listings below $500,000 are distressed, either short sales or foreclosures.
The below $500,000 price range represents 43% of the entire active inventory and 63% of demand, the hottest price range. The hottest range is also plagued with distressed sales, which keeps appreciation at bay.
|All of O.C.||9,556||2,894||30.3%|
|County high share:|
|Rancho Santa Marg.||142||80||56.3%|
|County low share:|
|Corona Del Mar||189||13||6.9%|