Recent statistics from the UCLA Anderson Forecast predict that the Orange County home sales volume will recuperate as much as 43% by 2012 and that the County will see $500,000+ median sales price for homes over the next two years as well. What does this mean for local and incoming residents? A huge housing market revival in Southern California and many more families moving to Orange County.
Melia Homes, a new homebuilding and development company, will be responsible for development two communities with more than 40 new homes, with a plan of building more than 150 homes annually throughout Orange County. Melia announced this development plan for Orange County and select areas of the Inland Empire this week that should begin previewing in April 2011. There will be entry-level and first-time single-family developments as well as luxury, estate-size residences to fit a variety of families' budgets and lifestyles.
So, will Orange County movers be busier in the upcoming two years? Do you think Melia's efforts and other development will show Orange County the housing market rebound they're expecting?