Sell your house in Orange County the easy way.

After record-high demand throughout the COVID-19 pandemic, recent reports indicate the Orange County housing market is experiencing declines due to increasing mortgage rates. As everyday costs continue to rise, prospective buyers have become more hesitant to take action. Despite higher interest rates, however, overall demand remains strong, coupled with a low inventory of available homes making for a lucrative seller’s market.

The median home price in Orange County recently exceeded the $1 million threshold, making it the most expensive county within Southern California. Fewer and fewer homes are going on the market, leading to fierce competition amongst buyers, only driving up home prices even further. Additionally, a higher-than-average household income across many Orange County residents allows for even greater purchasing power.

Despite racking up well above-average median home prices, Southern California boasts some of the lowest property tax rates in the U.S. According to SmartAsset, the average property tax rate in Orange County hovers around 0.69%, though this number can vary by neighborhood. Learn more about navigating OC property taxes in our guide to Orange County real estate taxes.

Several economic indicators are showing signs of a housing bubble in the Orange County real estate market, with housing prices skyrocketing at a pace far greater than people’s income. Several first-time home buyers are getting beat out by multiple offers above asking price, making an already expensive market even more unattainable for most buyers. Though mortgage rates aren’t expected to swell as they did during the last housing crisis, it’s clear that the housing boom of the last few years isn’t sustainable, and experts expect the Orange County real estate market to correct itself in the coming months or years.