January is complete, and the 2026 trends are solidifying. New listings came in nearly flat (+1.7%), inventory is growing at a similar pace to last year, and buyer demand is underperforming Orange County compared to all of Southern California—but the Expected Market Time just plunged 26 days in two weeks, the largest two-week January drop since 2019. Steven Thomas, Orange County's leading housing economist, breaks down what the early trends reveal about supply, demand, and market speed—and what it means for buyers and sellers right here in Orange County.