Since the bubble, Santa Ana homebuying up 48%: 12 trends to know

Since the bubble burst, homebuying in Santa Ana is up 48 percent.

In the first quarter of 2008, housing’s bubble was bursting and it was just months before the global financial collapse that led to the Great Recession. This three-month period still stands as Orange County’s slowest-selling start to any year in CoreLogic’s database that dates to 1988.

ICYMI: O.C. housing’s rebound from the crash

We decided to see how neighborhood housing markets fared since, comparing homebuying’s start of 2008 vs. this year’s first three months.

CoreLogic found these 12 trends in 6 ZIP codes covered by Santa Ana …

1. Purchases: Home sales in this period totaled 918 vs. 622 a decade ago, a gain of 47.6 percent.

2. Who’s up: Prices increased in 10 of the 6 ZIPs as sales rose in 10 ZIPs.

3. Countywide: $710,000 median selling price, up 38.4 percent. Orange County sales totaled 7,800 residences, existing and new, vs. 4,419 a decade ago, a gain of 76.5 percent. Prices rose in 79 out of 83 Orange County ZIPs and sales were up in 76 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Santa Ana 92701: $350,000 median, up 49.6 percent. Price rank? 82nd of 83 Orange County ZIPs. Sales of 65 vs. 43 a decade ago, up 51.2 percent.

5. Santa Ana 92703: $531,750 median, up 48.2 percent. Price rank? 75th of 83 Orange County ZIPs. Sales of 79 vs. 46 a decade ago, up 71.7 percent.

6. Santa Ana 92704: $535,000 median, up 48.6 percent. Price rank? 72nd of 83 Orange County ZIPs. Sales of 107 vs. 71 a decade ago, up 50.7 percent.

7. Santa Ana 92705: $915,000 median, up 30.7 percent. Price rank? 18th of 83 Orange County ZIPs. Sales of 87 vs. 54 a decade ago, up 61.1 percent.

8. Santa Ana 92706: $635,000 median, up 46.7 percent. Price rank? 57th of 83 Orange County ZIPs. Sales of 52 vs. 30 a decade ago, up 73.3 percent.

9. Santa Ana 92707: $430,000 median, up 11 percent. Price rank? 80th of 83 Orange County ZIPs. Sales of 76 vs. 49 a decade ago, up 55.1 percent.

Let’s toss in three more countywide trends …

10. Single-family homes resales: 4,614 Orange County sales vs. 2,853 a decade ago, a gain of 61.7 in the period. Median: $760,000 — a rise of 32.2 percent.

11. Condo resales: 2,097 Orange County sales vs. 1,080 a decade ago, a gain of 94.2 percent. Median: $495,000 — a rise of 32 percent.

12. New homes: 1,089 Orange County sales vs. 487 a decade ago, a gain of 123.6 percent. Median: $873,000 — a rise of 63.8 percent.