O.C. House Inventory at a Six-Month Low

It’s becoming more and more difficult to find a house in Orange County, with listed houses now at a six-month low.

ReportsOnHousing.com indicates that housing supply is down nine percent year over year, and at its lowest since mid-May.

The good thing for the residential brokerage community is that deals are getting done more quickly, since shrinking inventory and increasing demand translates to expedited sales. In the region, it now takes an average of 72 days to close a home sale. That’s down 15 days from the same time a year ago, when it took 87 days to close.