Housing’s lousy 2018: Sales drop 7.5% in Lake Forest, Mission Viejo, Rancho Santa Margarita, San Juan Capistrano, Trabuco Canyon

Homebuying in inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano — fell 7.5 percent in a year with the steepest countywide drop in sales in 11 years.

Last year saw the fewest Orange County homes sold since 2014 and the 8.6 percent drop in sales vs. 2017 was the largest year-over-year percentage decline since 2007. Key culprits in the slowdown include higher mortgage rates; economic uncertainty; not to mention that homeowners seeking a new residences couldn’t unload their old home.

Here’s what my trusty spreadsheet told me when looking at house-hunting patterns at the neighborhood level in 2018 vs. 2017.

ICYMI: OC homes: More affordable than you think?

CoreLogic found these 14 trends in 8 ZIP codes covered by the Orange County Register’s Saddleback News weekly …

1. Purchases: Home sales in this period totaled 5,837 vs. 6,311 a year earlier, a decline of 7.5 percent.

2. Who’s up: Prices increased in all 8 ZIPs as sales rose in 3 ZIPs.

3. Countywide: $725,000 median selling price, up 5.8 percent. Orange County sales totaled 35,020 residences, existing and new, vs. 38,310 a year earlier, a decline of 8.6 percent. Prices rose in 75 out of 83 Orange County ZIPs and sales were up in 16 out of 83 ZIPs.

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

4. Mission Viejo 92691: $680,000 median, up 1.6 percent. Price rank? 50th of 83. Sales of 631 vs. 725 a year earlier, a decline of 13.0 percent.

5. Mission Viejo 92692: $720,000 median, up 6.7 percent. Price rank? No. 38 of 83. Sales of 782 vs. 845 a year earlier, a decline of 7.5 percent.

6. Lake Forest 92630: $731,500 median, up 4.5 percent. Price rank? No. 37 of 83. Sales of 1071 vs. 1,214 a year earlier, a decline of 11.8 percent.

7. Foothill Ranch 92610: $770,000 median, up 9.4 percent. Price rank? No. 31 of 83. Sales of 224 vs. 204 a year earlier, a gain of 9.8 percent.

8. Rancho Santa Margarita 92688: $595,000 median, up 8.8 percent. Price rank? No. 64 of 83. Sales of 664 vs. 887 a year earlier, a decline of 25.1 percent.

9. Trabuco/Coto 92679: $990,000 median, up 16.5 percent. Price rank? No. 13 of 83. Sales of 582 vs. 703 a year earlier, a decline of 17.2 percent.

10. Ladera Ranch/Rancho Mission Viejo 92694: $740,000 median, up 3.9 percent. Price rank? No. 35 of 83. Sales of 1265 vs. 1,153 a year earlier, a gain of 9.7 percent.

11. San Juan Capistrano 92675: $834,000 median, up 6.8 percent. Price rank? No. 23 of 83. Sales of 618 vs. 580 a year earlier, a gain of 6.6 percent.

Plus, three more countywide trends found in 2018 vs. 2017 …

12. Single-family-home resales: 20,934 Orange County sales vs. 23,022 a year earlier, a decline of 9.1 percent in the period. Median: $775,000 — a rise of 4.0 percent in the period.

13. Condo resales: 9,232 sales vs. 10,265 a year earlier, a decline of 10.1 percent in 12 months. Median: $505,000 — a rise of 6.3 percent in a year.

14. New homes: Builders sold 4,854 residences vs. 5,023 a year earlier, a decline of 3.4 percent in 12 months. Median: $942,000 — a rise of 11.0 percent in a year.