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The Growing Housing Market in Orange County Has Increased and Stayed Strong, Despite National Trends
Date:4/29/2013

Irvine, CA (PRWEB) April 29, 2013

As a prime a real estate agent in Irvine, Sam Ali of Sam Realty Group, has seen the many downs and the recent ups in the housing market. In 2013 alone, residential units rose over 16%. Things are looking good for the real estate industry, but buyers have fewer inventories to purchase from than ever before. Many pros say that the market may recede, however, because of investor-led purchases and the slow return of the U.S. economy. These and other reasons have affected the southern California market in the process.

As a real estate agent in Irvine and other nearby Orange County markets, Sam Ali has gathered a few ideas about these trends locally. “There are some amazing properties available right now, even though inventory is scarce. Some may be good for wealthy retirees, while others are good for certain investments,” explains Sam. According to CNN Money.com, investors are what caused the real estate boom in the first place, when interest rates and home prices dropped. Many of the properties that they buy become long-term rentals, the rate of which hasn’t gone up enough to make the purchase worthwhile. “But in tourist areas like Laguna Beach and other places in Orange County, we get lots of vacation rentals all year around, defying the national trend,” says Ali.

Average employment levels in the spring were less than the last quarter, so people are more hesitant to make a long-term real estate investment, like a home. Ali also notes that the Orange County median income is well over the national average, so residents looking for homes will pay more and will be more apt to buy. “We may have more expenses, but we also make more and have good job security, so buying is still a strong option.”

As a

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