Orange County Ends 2016 With Record $665,000 Median Home Price

Orange County’s housing market ended 2016 with its overall median selling price at an all-time high of $665,000 as local builders had their best sales month in 12 years. CoreLogic reported Tuesday that for the third consecutive month, Orange County’s median was at an all-time high as it surged from $660,000 in November and $655,000 in October. In a year, the local median price is up 5 percent. Prices are on the upswing – 56 consecutive months of year-over-year increases – as the local job market remains strong, the supply of existing homes for sale remains tight, and successful house hunters are switching to pricier new homes. Rising mortgage rates, and fears they will go higher, motivated buyers at year’s end. Here are 10 things you need to know about December’s upswing

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