Orange County Homes Hit Seven Year High in November

Orange County Homes Hit Seven Year High in NovemberOrange County home sales hit their highest level for a November in seven years, soaring 25.3 percent over last year’s sales pace.

Home prices, meanwhile, hit a five-year high for a November, rising 12.5 percent from 2011, housing market tracker DataQuick Information Systems reported Wednesday.

The median home price, however, dipped slightly last month – to $450,000 in November versus $455,000 the previous month. Foreclosures dwindled. Competition for a limited supply of homes remained fierce. Just ask Kimi Kobashi, who took nine months and 14 bids to finally close a deal on a Huntington Beach home.

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Authored By Jeff Collins & Kelli Hart Kehler – See the Full Story at the OC Register

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