The Fullerton real estate market, a subsidiary of the larger Orange County real estate market, is showing signs of improvement even though there are still a number of homes facing the possibility of foreclosure in the region. According to an April 13, 2010 article in OCLNN, “The Orange County housing market continues to slowly improve, with an increase in prices and sales volume reported for March. According to numbers released Tuesday by DataQuick, the median sales price for an OC home was $432,000 in March, up 12.2 percent from March 2009 and 3 percent from February 2010.” The article, composed by Mike Reicher, continued to say that “Sales, meanwhile, also increased in OC: There were 2,652 sales in March, up 9 percent from March 2009. An uptick in sales volume is common from February to March. This is the 20th gain in sales compared to the previous year during the last 21 months. The sales volume, though, is still below the historical average.”
One possible problem for Fullerton homes for sale was highlighted by an April 14, 2010 article in the OC Metro, which noted that “There were 12,841 homes in some stage of foreclosure in Orange County during the first quarter of the year, according to statistics released by Irvine-based RealtyTrac. The number rose 7 percent from the fourth quarter and 4 percent from the same time last year. Last month, there were 5,329 foreclosure filings in the region – up 55 percent from February, though the number is down 13 percent compared to March of last year.” The piece, written by Kristen Schott, continued to note that “There were 1,722 real-estate-owned properties in Orange County during the first quarter, up 4 percent from the fourth quarter. But, the number is down 22 percent from the same time last year. Nationwide, the number hit 257,944.”
A more negative picture for Fullerton real estate was described by Jon Lansner in an April 27, 2010 article for the Orange County Register. This piece stated that “In the year that will end in February 2011, FACL sees Orange County home prices – including distressed sales – falling 2.83%. That’s a bit of a switch from January when FACL saw Orange County home prices rising at 0.84% in the next year.”