RE/MAX Fine Homes - Orange County Real Estate Blog: Chapman University's Economic Update

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

Comments

Lee Ann,

Great news!  Slow and steady is the best way to get us back to normal.

Posted by Daniel J. Brudnok, REALTOR, SRES, e-PRO,ABR,GREEN,CSP (Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038) over 6 years ago

That's great news Lee Ann! Thanks for posting! And I hope you stopped across the street at Bruxie for lunch. ;)

- Pauline

Posted by Kara Roberson, RES.NET (RES.NET) over 6 years ago

Lee Ann - This is an excellent news for Orange County and for the entire State of California. Hopefully trend will continue improve the economy. Excellent blog.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) over 6 years ago

I always feel that Dr. Esmael Adibi and Dr. Jim Doti do a fabulous presentation.   But it's really nice to walk out of the room feeling optimistic.  That's what happened to me on Tuesday.

Posted by Lee Ann Canaday over 6 years ago

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