WHAT WERE THE actual NUMBERS…
The total number of sales for Orange County in November (the most recent complete month available) was,
2,257, which was down 1.8% from October. That is a reasonable, seasonal, decline. It was also down 10.7%
from November 2009, which seems like a lot, but if you look at the year-to-date average number of sales of
2,545, there is only a -0.7% differential.
There were 1,407 single-family resale, 614 condos, and 236 new homes. The last statistic on new homes is worth mentioning because it is a 27.6% increase. Why does this matter? Building demand leads to building permits, leads to hiring in construction, the one job sector that is most sluggish in So Cal. In other words, demand for new homes is a sign of recovery.