The 36th annual Chapman University Economic Forecast presented by Dr. Jim Doti and Dr. Esmael Adibi was held this week at the Segerstrom Center for the Arts in Costa Mesa, CA. Around 1,500 business executives and leaders attended. Through research and analyses the A. Gary Anderson Center for Economic Research projected reporting on the nation, California, and Orange County. The 2014 forecast identified weak economic growth and a “cool off” for housing prices due to “lower housing affordability and increasing supply of new and resale housing units.”
- Residential construction activity will fuel economic growth nationwide
- Total payroll job creation of 332,000 in California and 35,000 in Orange County in 2014.
- Median resale SFR prices are forecasted to increase by 5.6% in Orange County