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Hello Ryan,

Welcome to my weekly Real Estate Newsletter. I hope you find some value in the content. If you would like some additional content, data, or information please let me know,

Ryan

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Moving to Orange County: Your local guide

Relocating to Orange County? The ultimate guide to Orange County living.

Home prices grew in 85% of all US metros

85% of U.S. metro markets saw home price increases in Q4 of 2023. That’s according to NAR’’s latest market update. Here’s what else it reports:

15% of the 221 metros studied saw double-digit price gains, up from 11% in Q3

Median home price was $391,700 in Q4, up 3.5% YOY

The South led all regions with the largest share of single-family existing home sales (45%) in Q4

8 out of the 10 priciest metros in the country were in California

YOY home price gains by region:
Northeast – 7.3%
Midwest – 4.7%
West – 4.2%
South – 3.2%

My take:

We should all take a step back and marvel at the current state of the U.S. market. Last year was one of the most difficult years in real estate history and yet 85% of all metros saw home prices increases. Don’t ever let anyone tell you homeownership isn’t a good investment! This all bodes well for 2024. Home prices are going to keep rising this year, and we believe we can get a lot more deals done.

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Current Mortgage Rates 02/09/24

How politics are affecting homebuying

New reports from Redfin and Allied Van Lines shed light on the impact that local laws and political divides are having on real estate. 32% of agents surveyed by Redfin said they had at least one client in the past year make a politically-motivated real estate move.

People’s reasons for moves vary widely, from the general political climate to specific issues such as reproductive rights or guns. Red states are top destinations for movers. However, we should note that interstate moves did drop 12% last year compared to 2022.

Here are the top inbound and outbound states, per AVL:

Top Inbound States

South Carolina
Arizona
Tennessee
North Carolina
Florida

Top Outbound States

Illinois
California
Pennsylvania
Michigan
Washington

Our take:

I don’t like talking politics in this newsletter, but I do like knowing what’s motivating buyers and sellers in their real estate decisions.

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Market Report Week of 02/09/24

Anaheim, CA

Fri Feb 09 2024

This week the median list price for Anaheim, CA is $1,149,900 with the market action index hovering around 62. This is an increase over last month's market action index of 60.

Featured Listing/Lease

4143 Prospect Avenue, Yorba Linda, CA 92886

1320 Corte Alemano, Costa Mesa, CA 92626

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Ryan Banderas

Banderas Realty

711 S Dawn St,

Anaheim, CA 92805

714.396.8532

CA LIC#01119501