Orange County Home Sales Up 23%, Prices Up 12% in August Over 2011

Orange County Home Sales Up 23%, Prices Up 12% in August Over 2011Orange County’s median price for existing, single-family homes took a dramatic leap in August, up by nearly 12% from August a year ago, the California Association of Realtors says.

Local home prices also increased 3 percent over July. Sales rose 23 percent over last August in Orange County but were just short of a 2 percent hike over last month.

Statewide, prices also went up, with the median reaching a 4-year-high. Sales hit 5 consecutive months of year-over-year gains, CAR said in its monthly report..But housing inventory was down by a third from last year.

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Authored By Marilyn Kalfus – See the Full Story at the OC Register

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