By Cornelius Jackson
T
he coastal city of Irvine is experiencing a real estate boom. The low-interest-rate has given people great purchasing power, and they have entered the housing market in full swing. The demand for homes in Irvine has gone up, even though it is one of the pricier coastal cities. The warm weather and the great school district are making the city even more attractive. The demand has been so great that home prices have gone up by double digits. Unfortunately, the housing market has little supply, and buyers have to make multiple offers on different homes before closing in on their dream homes. The high appreciation has also seen people leave the market as they get priced out. But these factors are making the housing market in Irvine a seller’s market. It would be an ideal time to sell as the economy recovers and demand is still high. But as we are well into the year, is the market going to look any different? INVENTORY The number of homes listed in Irvine went up by 32% in May 2021, from the same time last year. The number of new homes listed was 360 this year in May, while last
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Looking at Irvine Housing Market: Future Opportunities
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