- Orange County’s median home price as of September 2016 was $640,000, a decrease of $9,000 compared to August 2016, yet an increase of $25,000 compared to September 2015 home prices. The housing market, especially in Orange County, is being watched closely considering the large fluctuations recently experienced in home prices as well as due to both domestic and international economic concerns. While the housing market continues to display strength, a rise in interest rates from the Fed, continued struggles by younger generations to accumulate their savings and preponderance for younger generations to favor rentals could negatively impact the housing market going into 2016.
- The Orange County average rental rate in June 2016 decreased slightly to $2,001 – a decrease of $2 compared to the previous month yet an increase of $152 compared to the previous year. On a per-city basis, Orange and Anaheim had the highest year-over-year growth ($522 each) while Santa Ana large declines of $567 year-over-year. On a month-to-month basis, the average apartment rent in Orange experienced the largest increase, growing by $268 followed by Huntington Beach which increased by $38. The largest month-over-month decrease came from Fullerton and Anaheim which decreased by $114 and $99, respectively.
- Orange County Building permit activity in October 2014 hit landmark highs with 1,892 permits granted during the month. So far, 2016 is experiencing seasonal highs in building permit activity registering 9,255 permits year-to-date. In September 2016, a total of 472 building permits were issued representing a decrease of 236 permits month-over-month and a decrease of 1,051 buildings permits year-over-year. Irvine and Aliso Viejo provided the highest amount of new permits recorded during the month of September 2016 at 191 and 73, respectively.
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