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Housing Forecast: Orange County, California
As of date: 11/12/2009 | Next report: 12/12/2009 (Free Subscription)
County Summary
HouseForecasts.com's short- and long-term house price prediction for Orange County, California. Short-term: next two years. Long-term: when market returns to normal. The county includes many cities ranging from Newport Beach to Santa Ana. Order an individual zip code subscription for only $29.99 - before you buy a home.
| Short-term Price Forecast |  |
Flat to down | Short-term prices likely to fall. |
| Long-term Price Forecast |  |
$280,000 - $320,000 |
Long-term median fundamental home value. |
| Short-term Score Card | |||
| Reported Inventory |  | 9.5 Months | Higher inventory, lower prices. More... |
| With Shadow Inventory | | 12 Months | Higher inventory, lower prices. More... |
| US Unemployment | | 10.2% | Unemployed people don't buy houses. More... |
| OC Unemployment | | 9.6% | Unemployed people don't buy houses. More... |
| Inflation Rate | | -1.2% | Lower future price levels mean lower house prices. More... |
| Attitudes and Confidence |  | 35 / 100 | Beliefs and attitudes matter. More... |
| Nominal Interest Rates (Q3) |  | 5.15% | Lower nominal rates, higner prices. More... |
| Real Interest Rates (Q3) | | 7.25% | Higher real rates, lower prices. More... |
| Proposed Government Actions |  | Mixed | Govt. actions to have mixed pricing results. More... |
| Bubble Financing Fallout | | Negative | Prices will be driven lower due to Option ARM recasts. More... |
| Long-term Score Card | |||
| County Incomes | | $73,000 (2007) | County incomes not high enough to support current prices. |
| County Rents | | $2,300 | County rents cannot support current home prices. |
| Historic Prices | | 143% Above | Current prices above long-term price trends. |
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HouseForecasts.com's fundamental valuation model indicates that home prices will fall further in the long-term in Orange County, California. Orange County is a diverse region with 3,010,759 (2008 estimate) inhabitants in 789 square miles. Different communities in Orange County will reach their housing price bottom at different times. If you are thinking of buying in Orange County, and know the zip code where you will buy, we recommend buying a forecast for an individual zip code. If you are just watching the market, we invite you to subscribe to our county updates for free. | |||
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