Housing Affordability a Challenge in 2016

Rents, home prices and home sales all are projected to rise even more in 2016, albeit perhaps at a slower pace than in 2015.

“We expect housing to remain strong in Orange County and also in California,” said Jerry Nickelsburg, senior economist with the UCLA Anderson Forecast. “There will be appreciation in both rent and home prices.”

Lawrence Yun, chief economist of the National Association of Realtors, said that because Orange County is such a sought-after market, housing here “will always be expensive.”

Chapman University economic forecasters predict that the median price will rise another 2.5 percent in 2016, while Cal State Fullerton projects an increase in the 4 percent to 6 percent range this year.

Read the story.

Tag Cloud

more stories loaded below