Homebuying in what we’ll call the “Beach Blvd. Corridor” — in and around Huntington Beach, Fountain Valley, Garden Grove and Westminster — fell 12% as Orange County sales slumped to the slowest pace in eight years.
CoreLogic homebuying stats show 2019’s first six months were Orange County’s slowest-selling first half since 2011, just after the Great Recession ended. House hunters’ resistance to buy was certainly key to the countywide median selling price running flat over the year. Falling mortgage rates could not override slipping consumer confidence and a cooling California economy.
ICYMI: California home values a national laggard
How do these homebuying patterns translate locally? Well, CoreLogic found these 19 trends in 13 ZIP codes covered by the Orange County Register’s The Wave weekly, for 2019’s first half …
1. Purchases: Home sales totaled 2,023 vs. 2,305 a year earlier, a decline of 12% in a year.
2. Who’s up: Prices increased in 6 of the 13 ZIPs as sales rose in 3 ZIPs.
3. Countywide: $735,000 median selling price, flat in the period. Orange County saw 15,792 existing and new residences sell vs. 18,048 a year earlier, a decline of 12.5% in a year. Prices rose in 35 out of 83 Orange County ZIPs; sales were up in 17 out of 83 ZIPs.
Here is how prices and sales moved in and around Huntington Beach, Fountain Valley, Garden Grove and Westminster …
4. Fountain Valley 92708: $805,000 median, up 2.9% in a year. Price rank? 24th of 83. Sales of 234 vs. 266 a year earlier, a decline of 12% over 12 months.
5. Garden Grove 92840: $552,500 median, down 4.5% in a year. Price rank? No. 72 of 83. Sales of 197 vs. 196 a year earlier, a gain of 0.5% over 12 months.
6. Garden Grove 92841: $615,000 median, down 0.8% in a year. Price rank? No. 62 of 83. Sales of 94 vs. 92 a year earlier, a gain of 2.2% over 12 months.
7. Garden Grove 92843: $560,000 median, up 4.7% in a year. Price rank? No. 67 of 83. Sales of 96 vs. 118 a year earlier, a decline of 18.6% over 12 months.
8. Garden Grove 92844: $485,000 median, down 14.5% in a year. Price rank? No. 79 of 83. Sales of 64 vs. 83 a year earlier, a decline of 22.9% over 12 months.
9. Garden Grove 92845: $659,000 median, down 0.9% in a year. Price rank? No. 53 of 83. Sales of 100 vs. 100 a year earlier, flat in the period.
10. Huntington Beach 92646: $742,750 median, up 0.4% in a year. Price rank? No. 38 of 83. Sales of 314 vs. 369 a year earlier, a decline of 14.9% over 12 months.
11. Huntington Beach 92647: $740,500 median, down 1.9% in a year. Price rank? No. 39 of 83. Sales of 168 vs. 197 a year earlier, a decline of 14.7% over 12 months.
12. Huntington Beach 92648: $988,000 median, up 4.9% in a year. Price rank? No. 13 of 83. Sales of 231 vs. 303 a year earlier, a decline of 23.8% over 12 months.
13. Huntington Beach 92649: $790,000 median, up 1.3% in a year. Price rank? No. 29 of 83. Sales of 182 vs. 196 a year earlier, a decline of 7.1% over 12 months.
14. Midway City 92655: $665,000 median, up 5.6% in a year. Price rank? No. 51 of 83. Sales of 24 vs. 13 a year earlier, a gain of 84.6% over 12 months.
15. Stanton 90680: $425,500 median, down 1.0% in a year. Price rank? No. 81 of 83. Sales of 91 vs. 95 a year earlier, a decline of 4.2% over 12 months.
16. Westminster 92683: $659,000 median, down 3.2% in a year. Price rank? No. 53 of 83. Sales of 228 vs. 277 a year earlier, a decline of 17.7% over 12 months.
Plus, three more countywide trends found in 2019’s first six months vs. the first half of a year ago …
17. Single-family-home resales: 9,912 Orange County sales vs. 10,833 a year earlier, a decline of 8.5% in the period. Median: $780,000 — a dip of 2.4% in the period.
18. Condo resales: 4,308 sales vs. 4,813 a year earlier, a decline of 10.5% in 12 months. Median: $499,500 — a dip of 0.9% in 12 months.
19. New homes: Builders sold 1,572 residences vs. 2,396 a year earlier, a decline of 34.4% in 12 months. Median: $1,013,750 — a rise of 5.9% in a year.
