March 2008 The copyright laws of the United States (Title 17 U.S. Code) forbid the unauthorized reproduction of this report by any means, including facsimile or computerized formats. Copyright © 2006, CALIFORNIA ASSOCIATION OF REALTORS® Orange County Economic Profile
County Profile CharacteristicStatisticState Rank 2006 Population Estimate3,072,3362 % Population Change %19 % Population Change %32 % White % % Hispanic % % Black % % Asian & Pacific Islander % 2006 Per Capita Income$31, Median Household Income$70, Median Age35.3 Land Area Square Miles Total Establishments78, Civilian Employment1,538,059
Sales of Existing Detached Homes and Pacific West Consumer Confidence Orange County, January 2008: 634 Units, Down 38.3% Y-T-D, Down 38.3% Y-T-Y SOURCE: California Association of REALTORS®; The Conference Board INDEXUNITS
Sales of Existing Detached Homes Orange County, 2007: 13,555 Units, Down 22.7% Y-T-Y SOURCE: California Association of REALTORS® UNITS MONTHLY ANNUAL
Median Price of Existing Detached Homes Orange County, January 2008: $609,030, Down 11.6% Y-T-Y SOURCE: California Association of REALTORS®
Median Price Annual Comparison Orange County, 2007: $699,590, Down 1.3% Y-T-Y SOURCE: California Association of REALTORS® ANNUAL MONTHLY
Median Home Sales Price Orange County SOURCE: C.A.R.; DataQuick Information Systems. The price statistics are derived from all types of home sales -- new and existing, condos and single-family.
Median Home Sales Price – Cont. Orange County SOURCE: C.A.R.; DataQuick Information Systems. The price statistics are derived from all types of home sales -- new and existing, condos and single-family.
Unsold Inventory Index Orange County, January 2008: 33.4 Months SOURCE: California Association of REALTORS® MONTHS
SOURCE: California Association of REALTORS® Months Supply Unsold Inventory By Price Range Orange County Existing Homes January 2008 vs. January 2007
Foreclosures Orange County SOURCE: Real Estate Research Council
Proportion of Foreclosures in Housing Transfers Orange County SOURCE: Real Estate Research Council
Median Time on the Market Orange County - Single-Family Homes, 2007 Q4: 68.6 days SOURCE: California Association of REALTORS®
Asking Rents for Class A&B Apartments Orange County, 2007 Q4: $1,595, Up 5.1% Y-T-Y SOURCE: California Association of REALTORS®; REALFACTS
Vacancy Rates for Class A&B Apartments Orange County, 2007 Q4: 6.0% SOURCE: California Association of REALTORS®; REALFACTS VACANCY RATE
Mortgage Rates SOURCE: Federal Home Loan Mortgage Corporation
Housing Affordability Index Orange County, December 2005: 10% SOURCE: California Association of REALTORS® % OF HOUSEHOLDS THAT CAN BUY
First-time Buyer Housing Affordability Index Orange County, 4th Quarter 2007: 28% SOURCE: California Association of REALTORS® % OF HOUSEHOLDS THAT CAN BUY
Nonfarm Employment Orange County, January 2008: Down 0.9% Y-T-Y SOURCE: CA Employment Development Division Y-T-Y PERCENT CHANGE
Unemployment Rate Orange County, January 2008: 4.4% SOURCE: CA Employment Development Division
Unemployment Rate Orange County -- January 2008 SOURCE: CA Employment Development Department CCD Census County Division CDP Census Designated Place
Unemployment Rate – Cont. Orange County -- January 2008 SOURCE: CA Employment Development Department CCD Census County Division CDP Census Designated Place
Unemployment Rate – Cont. Orange County -- January 2008 SOURCE: CA Employment Development Department CCD Census County Division CDP Census Designated Place
Taxable Sales Orange County ANNUAL PERCENT CHANGE SOURCE: CA State Board of Equalization
New Housing Permits Orange County, January 2008: 118 Units, Down 75.1% Y-T-D SOURCE: Construction Industry Research Board
Median Price for New Homes Orange County 4Q07 Detached: $936,000, Attached: $506,990 SOURCE: California Association of REALTORS®; Hanley Wood
New Home Sales Orange County (Attached), 2007 Q4 Sales: 254 Units SOURCE: California Association of REALTORS®; Hanley Wood
New Home Sales Orange County (Detached), 2007 Q4 Sales: 134 Units SOURCE: California Association of REALTORS®; Hanley Wood
Population Percent Changes Orange County ( ) SOURCE:U.S. Census Bureau; California Department of Finance; California Association of REALTORS®
Sources of Population Growth Orange County ( ) THOUSANDS SOURCE: CA Department of Finance
Net Immigration Vs. Domestic Migration Orange County THOUSANDS SOURCE: CA Department of Finance
Household Relocations Orange County Source: NAR Relocation Report 2005 – IRS Data; Item , US Census Bureau
Where are new Orange County households coming from? Los Angeles (18,884) Riverside (4404) San Diego (3188) San Bernardino (2833) Santa Clara (740) Total incoming for 2005: 50,276 Total outgoing for 2005: 62,463 Source: NAR Relocation Report 2005 – IRS Data; Item
Net Immigration by Ethnic Group Orange County (1990 Census to 2000 Census) SOURCE: CA Dept. of Finance
Number of Households by Ethnicity Orange County (1990 Census vs Census) SOURCE: U.S. Census Bureau
Top 10 Home Buyer Surnames Orange County (2006) SOURCE: DataQuick Information Systems
Population by Age Group Orange County ( ) SOURCE: California Department of Finance; California Association of REALTORS®
Homeownership Rates Orange County, 2004: 61.4% SOURCE: U.S. Census Bureau
Homeownership Rates by Age Orange County (2000 Census) SOURCE: California Department of Finance; California Association of REALTORS®