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.”
And if you think buying or renting a home is hard, try finding affordable office, industrial or retail space. Commercial real estateprices, like their residential counterpart, also are projected to continue 2015’s