Everyone is intensely focused on the prices of home when the real focus should be the ability to write a check for he monthly mortgage payment. The low mortgage rate environment has resulted in substantially smaller payments, allowing home prices to rise considerably as well. Everyone is acutely aware that home prices have been soaring for the past year-and-a-half. They have far exceeded the runup in values prior to the Great Recession. This has many people on edge, wondering how values can continue to rise beyond their current record highs. In focusing just on prices, it is no wonder they fear an end to the pandemic housing run. In analyzing today’s housing market, it is not just about home prices. Household incomes and mortgage rates over time tell a completely different story. In 1980, the median detached home price in Orange County was $108,000. That sounds incredibly cheap and an unbelievable deal; however, mortgage rates averaged 13.75% and the median household income was only $22,000. The monthly mortgage payment was a larger proportion of a new homeowner’s monthly income than today. Every 2 weeks I'll bring you the latest information on the housing market in Orange County, CA. Other areas and specific cities and zip codes are also available. Please message me direct with questions or for more details. See Show Notes Below for Summary Information. All stats courtesy of Reports On Housing. Ron Evans Amy Sims Real Estate Team DRE: 01965556 #realestatemarketupdate #realestatemarketstats #carealtor #coordinators #transactioncoordinators #realestatemarkets #justclosed #realestatemarketingagency #realestatemarketinrealestatemarketing #marketupdate #transactioncoordinator #realestatemarketingvideos #californiarealestate #realestatemarketingexpert #realestatemarket #realestatemarketing101 #realestatemarketingsolutions #realestatemarketingideas #realestatetips #realestatemarketingspecialists #buyer #realestateexperts #seller #realestatemarketingtips #businessowners #broker #realestate #realtor #realestateinvesting #realestateagent