The Orange County (Calif.) Register staffer Jeff Collins digs into a new report that predicts the area's housing prices will continue to go up and up in the coming years.
A Cal State Fullerton forecast estimates that Orange County house prices will rise between 4% and 6% next year and the year after. Collins writes:
If accurate, the median price of an existing single-family home will climb to $751,000 to $765,000 in 2016, up from the $722,170 median home price reported by the California Association of Realtors in July.
That’s less than $10,000 below the the all-time high of $775,424 for a single-family home reached in June 2007, according to state Realtors.