Commentary The housing market in Orange County, Calif., is finally starting to normalize. Homeowners can still expect their properties to sell in less than a month—historically very fast. But at 27 days, the average market time to sell a home in Orange County has increased 23 percent, from 22 days, in the past four weeks. According to Steven Thomas, author of The Orange County Housing Report, demand to purchase a home “has been dropping, shedding 10 percent in the past four weeks.” Local demand is now in line with historical averages. In comparing the current demand to purchase a home to the pre-pandemic housing market, it is just two percent above the 2015-2019 five-year seasonal average. There have been 2,761 pending sales over the past 30 days; the five-year seasonal average for 2015 to 2019 is 2,699 homes. Demand to purchase a home should be expected to reduce as prices …