Home prices are expected to rebound in 2013, this according to Chapman University’s 2013 economic forecast released Wednesday. A more robust housing recovery will be held back by the tepid job growth.
The report anticipates Orange County home values will appreciate 4.2 percent this year followed by a 6.8 percent increase in 2013. But, just as with jobs, it is a relative improvement. Local home prices plunged 24.4 percent in 2008 and declined two of the next three years.
Chapman economist Esmael Adibi, who presented the annual report with University President James Doti, called the projections a “cautious forecast” because of the uncertainty surrounding the impending U.S. tax hikes and budget cuts.
This forecast is for Orange County. Locally housing in Brea and Fullerton are expected to follow the same trend. If the demand for housing continues and the buyer pools continue to grow as they have, we can expect a higher growth in house values.
If you would like a customized report of your property including it’s current value and estimated value going into 2013, request our Real Estate Analysis in which we will provide you pertinent data of your home.
You can always search for community properties to see what is going on in your neighborhood.
Homes For Sale in Brea
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Homes For Sale in Fullerton
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