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What a difference a week makes!  This past week we saw most of the country shut down due to the Covid-19 pandemic.  We truly are in  un-chartered waters.  All open houses in California will be cancelled until further notice.  Undoubtedly this will have an affect on the housing market here in Orange County and Irvine.  With updates daily, adaptation is the key.  We are all in this together and will get out of it together.  With the stock market volatility, we saw an increase in mortgage rates this week.    As for the Housing Market, we did see a decrease in supply (inventory) this week in Orange County and Irvine.  We are now at the highest number of Active homes for 2020.  Homes that are aligned properly are selling very quickly.  Average Market Time is down from 44 to 35 Days in Orange County.  With the current pandemic, we could see inventory continue to decrease as sellers come off, or wait to come on, the market.  If you are looking to sell, you need to find an agent with an interactive strategy to succeed in this new market.   If you are a buyer, remember to speak with your lender to ensure your buying power has not changed.  You will also want to have a solid strategy to win.