- Housing prices have
tremendously appreciated year-over-year and have surpassed all
median home prices for the County since 2008. July 2013 marked
the first month-over-month decline in the median home price for
the County in six consecutive months, though August 2013 returned
to the ascending trend with a median home price of $560,000, the
highest recorded for 2013 thus far.
- Average apartment rents for Orange County have spiked with housing price growth,
typically $75 more on average for 2013 each month compared to
the previous year’s equivalent average. Though rental rates are
on the rise, August saw a slight month-over-month decline of $38
to an average of $1,683. This is a $38 increase in the average
compared to August 2012.
- 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.