RE/MAX Fine Homes - Orange County Real Estate Blog: June 2012

Chapman University's Economic Update

The Recovery is Not Going to Stall...

Several agents from RE/MAX Fine Homes attended Chapman University's Economic Forecast Update on Wednesday, June 27th.  Here are some highlights presented by the A. Gary Anderson Center for Economic Research & The George L. Argyros School of Business & Economics:

  • Employment in OC grew 1.1% in 2011 with a 1.4% growth in the first quarter of 2012
  • California Consumer Confidence is up to 92.3 in the 2nd quarter of 2012, up from 57.6 in 2nd quarter of 2008.  
  • Construction spending turned positive in early 2011 and shows a positive trend.  
  • Rents continue to rise in Orange County
  • By 2013 every sector in the economy is projected to show job growth
  • In Orange County, the inventory of homes is decreasing, eventually leading to increased demand and an increase in home prices.  Forecast in 2012 shows a 2% increase in home prices and a 7.1% increase in 2013.
  • Housing affordability in Orange County and other regions of California is at a historical high.  Great news! It's time to buy!

Click here to read for the official press release provided by Chapman University. 

 

 

Comment balloon 4 commentsLee Ann Canaday • June 28 2012 01:30PM
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