The O.C. Register’s Jonathan Lansner is crunching numbers once again, and has a sobering look at home prices: Orange County’s median home price has increased a rate equal to $13 every hour.
Leaning into DQNews/CoreLogic April data, Lansner found that the countywide median of $872,750 was up $117,750—16 percent over 12 months. That $117,750 gain equals an appreciation of $13 per hour in each hour of the past year.
Over the past 10 years, gains generally averaged 7 percent annually.
Other records and numbers of note: Sales of both new and existing residences in Orange County are up 98 percent from April 2020. As for purchases, the OC saw 38,712 since April 2020. That’s a 13.8 percent increase above the previous year.
Read more on Lansner’s breakdown of the region here.