- Housing prices have
tremendously appreciated year-over-year and have surpassed all
median home prices for the County since 2008. After ascending
to a median price of $560,000 in August 2013, October has brought
a slight decline to the median, now currently residing at $540,000.
This is still an $85,000 increase compared to the previous October.
- Average apartment rents for Orange County have spiked with housing price growth,
typically $60 more on average for 2013 each month compared to
the previous year’s equivalent average. Average rental rates for
Orange County fell slightly in October 2013, dropping by $5 to
an average of $1,711, about $90 higher than the August 2012 average.
- The number of residential building permits in Orange County spiked drastically
in April 2011, before regressing back to average 2010 numbers
in July 2011. 2012 was overall a healthier period for housing
permits, with relatively sustained growth throughout the year
and carrying momentum into May 2013. After the large spike in
building permits for July in Orange County, August 2013 has brought
permits to more moderate levels, totaling 570 for the month. Unlike
previous months, growth was driven by cities other than Irvine,
which only constituted 41.2 percent of the total building permits
for the county in August 2013.