Home sales in Orange County generated $20.4 billion in total revenue last year, the most for any year since the housing boom ended in 2005, figures from the California Regional Multiple Listing Service show.
Rising prices, combined with a shift to sales of pricier homes, boosted home sales dollars 16.2 percent from 2012 levels, MLS figures show.
By comparison, home sales here generated $25.2 billion in 2005, the last year before flagging sales triggered the biggest slump in seven decades. By 2008, total sales dollars fell almost by half to $13.4 billion.
Last year’s jump in sales revenue translates into greater earnings for real estate professionals.
For example, assuming an overall commission rate of 6 percent (commissions actually vary), housing deals here generated $1.2 billion in gross earnings for local real estate brokerages. That’s up $171 million from 2012 and $418 million from the total generated in 2008.