47% increase in Orange County housing payments cuts prices 5.1% from their peak – Orange County Register

Orange County home buying has cooled off this summer.

August sales were 31% down year-on-year as home seekers were deterred by 47% higher home payments. Home prices in Orange County are down 6.6% from their spring peak.

Here’s what my trusted spreadsheet found in DQNews’ August Closed Home Purchases Report in Orange County…


The balance: 2,546 single family, condominium, existing and new construction homes sold in Orange County. This was the third slowest August of the 35 since 1988.

One-month change: 12% increase over July. Since 1988, August sales are down 35%, with an average increase of 3.9% over July.

12-month change: 31% drop – #21 biggest drop since 1988 (or just 5% worse months).

summer slump: It’s not just a month. The 7,592 homes sold from June to August were 34% cheaper in a year and the second slowest mid-summer of the 35 since 1988.


The median: $984,000 for all homes fell 1.6% in a month while rising 9% over 12 months.

Record OC high? $1,054,000 fixed in May. So prices are down 6.6% from their peak.

One Month Trend: Since 1988, prices have fallen 31% of the time in a typical August, with an average decline of 0.52%.

one-year trend: Smallest increase in 16 months. Average profit since 1988? 5.3% annualized.

Key OC Slices

Existing single-family homes: 1,631 sold, down 31% in one year. The median of $1,126,000 is up 10% over 12 months.

https://www.ocregister.com/2022/09/27/47-jump-in-orange-county-house-payments-cuts-prices-5-1-from-their-peak/ 47% increase in Orange County housing payments cuts prices 5.1% from their peak – Orange County Register

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