At number two, Orange County is one of the turnaround towns for the quarter because its median home prices rose 29.4 percent over a year ago, the report said. It also had the fastest declining inventory in the nation, down 36.6 percent. That compared to the national average of 10.3 percent. Oakland, the No. 1 market, had falling inventory of 34.4 percent.
The median age of Orange County homes on Realtor.com was 51 days during the second quarter, far below the national median of 83 days and 43.3 percent lower than a year ago, according to the report.
To read more, click here.