One of my favorite reports that we put out each year.
It seemed like we would never see the day when a home purchased between 2005 and 2006, at the peak of the last seller’s market, would have positive appreciation. Now even those years are up 20 percent or more. And check out the appreciation in Orange County over the last 10 years. WOW!
I hear rumblings that this ‘bubble’ is going to burst just like it did in the years following 2006. Sure, the dramatic appreciation we have seen over the last few years is not sustainable but the fundamentals of this housing market is healthy, as it was in 2019 prior to the start of the pandemic market. The housing market in 2005/2006 was fueled by speculation and sub-prime loans. Now compare that with the COVID-influenced migration of upper-end buyers from Manhattan with much stronger finances. And even thought I haven’t gotten one of those “I need to get out of the city” buyer calls for sometime now, the market is still strong and preapprovals with higher down payments seem to be trending upward. This appreciation is legitimate, driven by fundamentals of strong demand and low inventory.
So take a look at the charts and see where you stand. Then click here for an automated ballpark value on your home and then contact me for a comprehensive valuation and marketability report.