RSM Real Estate Inventory—A Record Low

After reaching a low not seen in more than seven years, the real estate inventory dropped further across Rancho Santa Margarita as well as all of Orange County. 

Of the 292 properties currently on the market in RSM, only 56 or 19% of those are still available on the market. The rest of the 236 properties or 81% have accepted offers or are in escrow.

Our colleague Steven Thomas with Quantitative Economics and Decision Sciences shares that the Orange County active inventory shed an additional 210 homes in the past two weeks, an unprecedented 4% drop for this time of year, and now totals 4,676.

It is extraordinary because there is almost nothing on the market.  

Ask any seasoned buyer and they will fill you in on their real estate adventures. They have written offer after offer after offer, only to be told again and again that their offer was not good enough.  There simply are not enough homes to go around. It's almost sounding like a sellers market.

Last year in Orange County at this time there were 10,556 homes on the market, more than double.  The active inventory stood at 8,114 homes at the beginning of the year, 3,438 more than today