The May Dataquick home values report is out for Orange County (OC). Over the past 12-months, the median value for all homes sold in the OC has increased 2.4% to $435,000. That’s ups nearly $30,000 from April’s total.
More specifically, condos have increased a whopping 5.3% to $279,000 and resale homes have decreased 1% settling in at $495,000 – which is $10,000 higher than last month’s value for resale homes.
Here in sunny Anaheim Hills, North Orange County, California the news is even more upbeat. Median home values, for all homes sold, in the 92808 and 92807 zip codes has increased 8.7% over the past 12-months – coming in at a $452,250 median – nearly $30,000 more than last month’s median for Anaheim Hills.
All-in-all, it’s great news for SoCal. But, with interest rates inevitably on the rise, major uncertainties in Europe’s financial systems, as well as, a “recession” looming in China, this Realtor continues to project net decreases in OC home values for 2012. Most likely, we will not see these decreases until after the Presidential election as our current administration will do everything physically possible to keep interest rates at record lows.