Selling your home in today’s market might feel overwhelming. Questions like “Is it a good time to move?” or "Will I find a home I love?” might be holding you back. But if you're in Southern California, particularly Orange County, these concerns don’t need to stand in your way. Let’s tackle them together.
Is It a Good Idea To Sell Right Now?
If you’re a homeowner in Orange County, you might hesitate to sell because of higher mortgage rates on a new home. However, your home equity could make your move much more manageable than you think.
What is equity?
It’s the current market value of your home minus the balance on your mortgage. With the rapid appreciation in Southern California’s real estate market over the past few years, your equity may have grown significantly.
According to Dr. Selma Hepp, Chief Economist at CoreLogic:
“Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic.”
For Orange County homeowners, this could mean:
-A larger down payment on your next home. This reduces how much you need to finance, even at today’s rates.
- The possibility of buying your next home in cash. That means no mortgage payments at all.
Your equity could be the game-changer that makes your next move possible.
Will I Be Able to Find a Home I Love in Southern California?
If your concern is finding your next dream home in Orange County, here’s some good news: inventory levels are improving. While the housing supply dipped to historic lows during the pandemic, today’s market offers more options.
The numbers speak for themselves:
Recent data from Realtor.com shows housing inventory has increased by nearly 30% year-over-year. While we’re not back to pre-pandemic levels, the current inventory levels in SoCal are the highest we’ve seen in years.
What does this mean for you?
- More options for your next home. Whether you’re looking for a family home in Anaheim, a beachside retreat in Newport, or a luxury estate in Villa Park, the selection is better than before.
- Increased demand for your property. Orange County homes are still highly sought after, meaning your house can attract competitive offers.
However, inventory trends can vary by city and neighborhood. That’s why partnering with a local Orange County real estate expert, like Will and Way Homes, is essential to navigating this dynamic market.
Selling your home in Orange County doesn’t have to feel daunting. Your home equity could pave the way for your next move, and improving inventory levels mean you’re likely to find a home that meets your needs.
Ready to explore your options? Connect with Will and Way Homes, your trusted SoCal real estate experts, for personalized advice and market insights.
Let’s turn your selling concerns into confidence. Contact us today!
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