December of 2022 saw new listings decrease by 26.3% compared to an already-low December of 2021. The pandemic not only led to a reluctance of selling big ticket items like cars and homes, but seemed to have many re-think their view of housing in general.
Although the median home price is showing a gain of 9.1% for Anaheim Condos and Townhomes, this can send the wrong signal that condo values increased in December. Watch my video as I detail real working examples of how many of the gains of early 2022 were already erased:
Condos and Townhomes are taking twice as long to sell compared to December 2022 as reflected in the table above. This metric uses closed sales — meaning this is showing what happened more than 30 days ago. When I’m looking at the pending sales numbers, I expect that number to rise even higher in the next months unless demand really starts bringing inventory levels down.
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