Are housing prices going to crash in Orange County in 2023?
Will the market crash in Orange County in 2023?
Over the last 6 months that has been the most popular question I've had conversations around with both home buyers and sellers and it makes sense. It's natural the think back to the last time we saw homes lose value and use it as a reference, however in this case, the last time we saw home prices fall consistently was during the housing crisis of 2008 where we saw a once in a generation crash of 30-40% in home values. So with all the uncertainty in the market are we about to see a housing crisis 2.0? That is exactly what I'll be discussing today. We will look at the reasons for the last housing crash and compare them with what is happening today to give you a much better insight on the current market and the chances of a major correction happening anytime in the near future.