Is this the beginning of the end of the nonsensical rise in Orange County median home prices?
Where do things go from here?
Judging from the declines in listed inventory in Orange County up to early December, there may well be a new glut of available houses for sale in the market starting January 2007, which could drive median prices even lower. The reason for the glut? Well, perhaps homes are not selling as fast as they used to, and sellers are deciding to take their home off the market in November/December and to relist them in the new year.