A Santa Ana company makes a 2009-10 estimate for county real estate.  Santa Ana-based First American CoreLogic projects a 6.75 percent increase to occur in local home prices over the 12 months ending in October 2010, a smaller increase than those predicted in past months.

 Last month First American projected a 10.94 percent increase in house prices by September. Before that it projected a 9.53 percent gain by August.

 A UCLA forecaster has projected that home prices could climb as much as 16 percent in 2010, while others expect prices to increase by no more than 2 percent to 3 percent, if at all.

 In addition, First American’s Home Price Index shows:

 House prices declined 5 percent in October from the year before, compared with a 6.7 percent year-over-year price drop in September.

 When sales of distressed houses are excluded, the index of house prices dropped 5.8 percent in October. Distressed sales tend to pull home prices up because of heightened demand for those residences.

 Orange County’s October price compares with a 10.8 percent year-over-year drop in Los Angeles County, a 9.6 percent drop statewide and a 7.8 percent drop nationally.

Your thoughts and feedback on this topic are greatly appreciated. Please feel free to post your comments.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search