O.C. property index up again

August 11th, 2011, 1:00 am · 29 Comments · posted by Jon Lansner

By The Big Orange Index’s math for the second quarter, local real estate enjoyed its sixth consecutive advance — but the smallest gain in the streak. Homebuying and lending is down, but hiring and construction are up.
 

That’s the springtime read of my Big Orange Index, a compilation of three dozen measures of local economic patterns. Overall, Big Orange Property Owner index was 124 for last quarter. That’s up 0.38% vs. the previous three months and up 9.84% vs. a year earlier.

FULL BIG ORANGE INDEX ANALYSIS HERE!

Here’s benchmarks that comprise the Big Orange Property Index and how they’re doing:

  • People working in real estate and finance jobs averaged 157,700 in past year. That’s up 0.21% vs. the previous three months and down 0.19% vs. a year earlier. Employment Development Dept. is the source.
  • Homes sold ran 29,426 in past year. That’s down 4.08% vs. the previous three months and down 10.32% vs. a year earlier. DataQuick is the source.
  • Local home value ran at an estimated 453,108 in past year. That’s down 0.24% vs. the previous three months and up 1.63% vs. a year earlier. Compilation of data from Real Estate Research Council and Federal Hosuing Finance Agency is the source.
  • Residential building permitting pace was $1.16 billion in past year. That’s up 3.90% vs. the previous three months and up 30.29% vs. a year earlier. Chapman U. estimate is the source.
  • Mortgage making of all sorts in Orange equals $62.68 billion in past year. That’s up 0.85% vs. the previous three months and up 43.07% vs. a year earlier. DataQuick is the source.
  • Large-complex rents in O.C. averaged 1,425 in past year. That’s up 1.33% vs. the previous three months and up 1.82% vs. a year earlier. RealFacts is the source.

 

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