In this week's market report, it's evident that home buyer demand remains strong as the Days On Market (DOM) continues to decline. The median DOM for all properties is now just 23 days, while for those priced under $1,000,000, it drops to a mere 17 days. This trend could send us to a “savagely unhealthy real estate market” –Logan Mohtashami
Additionally, homeowners in Orange County are enjoying low-interest rates, while their homes have significantly appreciated in value. As a result, there is little motivation to sell, further contributing to the supply shortage in the area.