Irvine Median Home Prices
We've seen continual home price increases since early 2012 and the question on our minds is whether 2018 will carry on as the 7th year of growth. Economists are saying YES even in the face of the new federal tax legislation. With the growth in our economy and low unemployment rates, the housing demand is high while inventory has remained low, especially in 2017. Let's take a look back at the median home prices in the past 5 years of my home city, Irvine! While year over year increases have remained in the single digits, if you compare 2017 to 2013, the inflation for attached and detached properties are 26% and 20%, respectively. It's a good time to be a homeowner!
If you want more stats on other cities in Orange County, please reach out to me! I'd be happy to share.