January 16th, 2010, 12:01 am
Lawrence Yun, the chief economist for the National Association of Realtors, said he wouldn’t be surprised if Southern California home prices increased as much as 10% this year — a departure from his earlier predictions that prices would increase in the 3% to 5% range.
Yun, who once called an earlier double-digit forecast for Orange County “bubblish,” told the Register he’s changed his mind about Southern California. Since demand for foreclosures and lower-priced homes has been so great, he sees a possibility for higher appreciation rates.
“It’s clearly now a seller’s market,” Yun said. “It’s not the case in other parts of the country.”
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About The Baird Team
- Steve Baird & The Baird Team at Keller Williams
- Riverside, CA
- I'm a native born son of Southern California, having resided in 3 of our counties, including Los Angeles, Orange, and of course Riverside County. I've taken the breadth of experience from having worked and resided in a variety of communities in our southland to better educate and help my clients to make the right home buying choice, and homeowners get the most money from the sale of their home. Although my communities of expertise are Lake Hills and Victoria Grove in the western part of Riverside, my team's knowledge spreads to the entire city of Riverside and many of its surrounding communities like Corona, Norco, Perris, and Moreno Valley.
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