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Everyone seems to have an opinion on the direction of the current housing market. Many are predicting a housing bubble resembling 2008 and 2009. However, the housing and lending markets were very different back then. Mortgages were given based on zero-down loans, relaxed credit requirements, subprime lending, and fraudulent lending. There was also an abundant supply of homes to purchase.
Today's housing market is completely different. Stricter lending requirements have been implemented where you must actually qualify and prove that you can afford the monthly payment. The current housing boom is quite simply supply and demand. In the past month, supply has increased by 14%. Buyers have more homes to choose from and instead of competing against 10 offers, we are competing against 7 offers. There are just not enough homes to fulfill the immense demand.
Many predict we will have a flood of foreclosures once forebearance comes to an end. Of the 7.2M homeowners that took advantage of forebearance, 5.2M homeowners have exited forebearance and are now back to paying on time, and the other 2M homeowners have at least 10% equity in their home to sell it before they need to foreclose. A housing bubble is just not going to happen.
Sellers: Do not delay! With inventory starting to rise, there is more competition on the market. Demand will slowly decrease after the Summer as we move into the Fall and Winter Markets. Now is the time to sell!
Buyers: Inventory is increasing and mortgage rates are still low! Competition is still fierce, but I can get your offer accepted. Contact me to find out how.
Included below is your 60-day and 12-month Irvine Real Estate Market snapshot. I am your local resource for all your real estate needs. Referrals are always appreciated.
- Ellie Yung, Your Orange County Real Estate Specialist
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May - July 2021 (60-day Lookback)
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June 2020 - June 2021 (12-Month Lookback)
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Market Action Index
Comparison rate of sales versus inventory
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The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
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Listings by 
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Coming Soon
43 Secret Garden - Offered At $1,050,000
3 Bedroom + Loft | 3 Bath | 2,121 Sq Ft
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Gorgeous END UNIT Townhome located in the sought after gated community of Northwood Estates. This rare floorplan features DUAL MASTER SUITES, one on each floor, an additional MAIN FLOOR BEDROOM AND BATH, plus an OVERSIZED LOFT (which could be converted to a 4th bedroom). Each bedroom has its own bath as well. As you enter the formal foyer, you will be greeted by the spectacular OPEN FLOORPLAN with travertine flooring and wall of windows adorning the living area. Prime END UNIT location with open views, lots of NATURAL LIGHT and PRIVACY. Grand Open House, Saturday July 31st and Sunday August 1st from 1-4pm.
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Coming Soon
31770 Via Pamplona - Offered At $1,899,999
5 Bedroom + Office | 4.5 Bath | 3,852 Sq Ft | 9,953 Sq Ft Lot
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Stunning Spanish Villa located in the gated community of Rancho San Juan up in the rolling hills of San Juan Capistrano. This Former MODEL HOME is the largest floorplan featuring 5 Bedrooms Plus Office, 4.5 Baths on a 10,000+ Square Foot Lot. PRIME LOCATION! Premium VIEW LOT on a single loaded street at the end of a cul-de-sac with no homes across from you. As you enter the formal foyer, you will be greeted by the spectacular OPEN FLOORPLAN with soaring ceilings, stunning Spanish tile, and dramatic beams adorning the formal dining and living area. Grand Open House, Saturday August 7th and Sunday August 8th from 1-4pm.
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Active Listing
19181 Mesa Drive - Offered At $1,595,000
4 Bedroom | 2 Bath | 2,692 Sq Ft | 20,311 Sq Ft Lot
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BREATHTAKING PANORAMIC VIEWS!! You will love the stunning mountain and sunset views from this home! Gorgeous RARE SINGLE LEVEL RANCH HOME in the Rolling Hills of Villa Park. Sitting on a 20,000 square feet lot, this home features 4 bedrooms, 2 baths, a Home Office complete with built-ins, an oversized Bonus Room, and over 200K in Upgrades. Book your Private Showing today!
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Recent Sales by
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I have a very strong buyer pipeline in a very low inventory market. These buyers are pre-approved and ready to purchase. If you have a home that meets the below criteria or know of someone willing to sell, please contact me immediately! This could be a win-win situation.
1. Buyer #1
- Single Family in Orchard Hills (The Groves)
- 4+ Bedrooms, 4+ Baths (Messina, Saviero, Vicenza)
- 3,600+ Sq Ft
- Price Range <$2.3M
2. Buyer #2
- Single Family in Orchard Hills (The Groves)
- 4+ Bedrooms, 4+ Baths
- 4,000+ Sq Ft / Lot Size 7,000+ Sq Ft / Private Pool
- Price Range <$3M
3. Buyer #3
- Single Family in Irvine
- 4 Bedrooms, 2.5+ Baths
- Minimum 2,000 Sq Ft
- Price Range <$1.1M
4. Buyer #4
- Condo or Single Family in Woodbridge
- 2+ Bedrooms, 2+ Baths
- Price Range <$900K
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What's New with ?
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My youngest, Zoe, turned 8 on July 4th. She requested Chuck E Cheese, brunch, and fireworks for her birthday celebration! Hope everyone had an amazing 4th and are enjoying the Summer. It's coming to an end soon!
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