Poll: Irvine Housing Prediction June 2023 to 2024

Where will Irvine housing prices in June 2024 be compared to June 2023?

  • Total voters
    37
  • Poll closed .
irvinehomeowner

irvinehomeowner

Well-known member
So the first poll we were close... most responded flat to down and if I'm looking at the trending charts properly, it looks more like flat to up.

Poll: Irvine Housing Prediction June 2022

Alright, put your crystal balls to the test. 1. Finite time frame, so 1 year from now. 2. Irvine housing only (this is TI after all) 3. You can pick up to 3 4. Can vote/edit for 2 months then it locks. I think I listed enough options but let me know if I missed something. I don't think over...
www.talkirvine.com

So what do we think for next year?

Same rules as last year's:

1. Finite time frame, so 1 year from now.
2. Irvine housing only (this is TI after all)
3. You can pick up to 3
4. Can vote/edit for 2 months then it locks.

I consolidated the 5/10% into one category since they are pretty close.
 
This is interesting to me.

It seems like prices HAVE to go down... but the last year has shown how stubborn Irvine is even with high interest rates (which had the opposite affect because it stagnated inventory). And there are still new homes going up in Irvine. Portola Springs, Orchard Hills and Great Park still have a land available.

I think new may still go up but resale my go down a bit.. so flat overall?
 
Lanelgn said:
compare to San Jose... Irvine is not that expensive...
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Indeed - an attached SFR (duet style) up the street from me just closed at $962/sf. We district into the most academically competitive and sought after HS/MS/ESs in SJC - I call our zip code the destination for Asian buyers that can’t afford Saratoga or Cupertino.
 
JamesMarco said:
but people here don't get paid as muc
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There is a finite amount of land and a finite amount of homes for sale. It all comes down to supply and demand.

You don't need to have the "average", "median", or whatever metric you want to apply to have houses go up (or down) in any given area. You only need to have those who can afford it, to buy. Whether they make money long term or not or whether they would have made (or lost) more (or less) buying elsewhere or waiting won't make a difference on short term moves. AND........... Irvine is not homogenous. There are older, newer, condos, townhomes, SFR, executive homes and some neighborhoods or houses will be more in demand than others. In the long term........... houses go up, unless something catastrophic happens like a landslide.
 
So this poll is different from last year's... which was mostly flat to down. This one is mostly flat to up which is what last year actually was (recency bias?).

From what has been posted here, TIC has sold of the rest of their PS builds to builders... what about the rest of Orchard Hills?

And is that a new home community I see breaking ground just south of the Y? I think it was called Irvine Heritage or something as is probably GP related.
 
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