Chapman Economic Forecast Update – Orange County, CA

OC buildingThe A. Gary Anderson Center for Economic Research released an updated economic forecast for 2015 and 2016 forecast at the Segerstrom Center for the Arts in Costa Mesa, CA. Dr. Jim Doti and Dr. Esmael Adibi from Chapman University presented information on the nation, California, and Orange County.

Highlights include:

  • Orange County median home prices to increase by 4.8 percent in 2015 and 3.7 percent in 2016
  • With a $89,000 median family income in 2016, a potential Orange County buyer needs to allocate 37.9 percent of that income to purchase a median-priced home
  • Orange County is forecasted to generate about 47,000 payroll jobs in 2015, an increase of 3.1 percent

Read the June 2015 Update Press Release here

Chapman Economic Forecast for 2015

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The A. Gary Anderson Center for Economic Research released an updated economic forecast for 2014 and 2015 forecast at the Segerstrom Center for the Arts in Costa Mesa, CA. Dr. Jim Doti and Dr. Esmael Adibi from Chapman University presented information on the nation, California, and Orange County. “The forecast calls for real GDP growth to surpass three percent in 2015—the first time that has happened on an annual basis since the recovery began in 2009. ”

Highlights include:

  • Household wealth is at its highest level ever, above $80 trillion
  • Construction of new homes has served as an engine of growth for the economy
  • Median resale SFR prices are forecasted to increase by 4.1% in Orange County for 2015

Read the June 2014 Forecast Press Release Here

June 2014