The National Oceanic and Atmospheric Administration has predicted the strongest El Niño ever recorded and property owners hope to be prepared before the storms make their imprint.
Demand has risen to get roofs repaired so much that monthly backlogs are on the rise.
It is not only the coastal and canyon areas that are going to get hit warns real estate agents in Orange County.
Numerous homeowners seeking to sell their home typically put those plans on pause during the holidays and some even delay it until the Super Bowl passes to list their home on the Multiple Listing Service. Flooding and fatal mudslides predicted to be far worse than recent severe than megastorms which have pummeled Orange County may bring on even more delays in the high demand OC housing market.
El Niño should not have a lasting effect on n Orange County home sales in 2016 based on information from a group of real estate industry forecasters. This claim is contradictory to the current seasonal slump from data firm CoreLogic.
2015 marks the first year-over-year sales since January and was the smallest amount of transactions closings for October since the housing market recovery started back in 2012.
The median price of all Orange County homes fell to $600,000, which signals a decline of 2.4 percent for the month. It was the second biggest September-to-October percentage drop going as far back to 1988.
Housing experts recall that the El Niño in 1997-1998, actually did not have a detrimental effect on the real estate market. Presently, there is plenty of strength in the housing market due to the limited inventory of resale homes so buyers do not have a large number of choices.
So, no matter the case, wet weather, buyers will certainly be ready to act on new and resale homes that come on the MLS and are priced appropriately.
Demand has risen to get roofs repaired so much that monthly backlogs are on the rise.
It is not only the coastal and canyon areas that are going to get hit warns real estate agents in Orange County.
Numerous homeowners seeking to sell their home typically put those plans on pause during the holidays and some even delay it until the Super Bowl passes to list their home on the Multiple Listing Service. Flooding and fatal mudslides predicted to be far worse than recent severe than megastorms which have pummeled Orange County may bring on even more delays in the high demand OC housing market.
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| Huntington Beach Pier |
El Niño should not have a lasting effect on n Orange County home sales in 2016 based on information from a group of real estate industry forecasters. This claim is contradictory to the current seasonal slump from data firm CoreLogic.
2015 marks the first year-over-year sales since January and was the smallest amount of transactions closings for October since the housing market recovery started back in 2012.
The median price of all Orange County homes fell to $600,000, which signals a decline of 2.4 percent for the month. It was the second biggest September-to-October percentage drop going as far back to 1988.
Housing experts recall that the El Niño in 1997-1998, actually did not have a detrimental effect on the real estate market. Presently, there is plenty of strength in the housing market due to the limited inventory of resale homes so buyers do not have a large number of choices.
So, no matter the case, wet weather, buyers will certainly be ready to act on new and resale homes that come on the MLS and are priced appropriately.
