Orange County Housing Market News - Growth Expected To Continue In 2013

Jan. 24, 2013 - PRLog -- A meeting of top economists at Washington’s International Builders this week confirmed what Orange County Mortgage brokers and would be home buyers in the area already hoped, the nation wide housing market will continue to grow on an accelerated basis this year, but their was an agreement that the Federal Government had to stay out of the way in order for the real estate recovery to continue.

Every Key Indicator Going Up

David Crowe, a Chief Economist with the National Association of Home Builders brought encouraging news to the 2013 National Association of Home Builders by telling the meeting that key economic indicators that showed rapid growth in the housing market was up on every level; some of the indicators that he mentioned were: prices, permits, start of new housing, sales and most important of all, the overall confidence of home builders.

Mr. Crowe also mentioned that overall home prices for areas like Orange County, California were up almost six percent in the last 10 months and that recent surveys have shown that more people are feeling that their homes will going up (appreciate) in value and not depreciate in the coming months.

Normal Housing Activity

Orange County mortgage brokers and realtors will remember the first three years of the 2000’s as being the peak years of the real estate market in this area, Mr. Crowe echoed this opinion by stating that the period of 2000-2003 in his eyes can be seen as a normal period for the housing market across the United States and in his eyes the current real estate market is heading back into similar territory due to the following factors:

Remodeling in residential areas across the United States is now back to what can be considered normal levels.
Construction of single-family homes has risen to almost 50 percent normal production and is expected to be at 52 percent by this summer.
To learn more about the encouraging housing news and how it affects you or to get an affordable Orange County Mortgage Loan, contact Sun Financial Group today by calling (949) 699-1950.